55-1,121. Same; fee fund. - Kansas Statutes

55-1,121

Chapter 55.--OIL AND GAS Article 1.--OIL AND GAS WELLS; REGULATORY PROVISIONS

      55-1,121.   Same; fee fund.(a) There is hereby created in the state treasury the saltsolution mining well plugging fund. Such fund shall be administered by thesecretary inaccordance withthe provisions of this section and K.S.A. 55-1,120, and amendmentsthereto.

      (b)   All moneys received by the secretary as grants, gifts, bequests or stateor federalappropriations for the purposes of K.S.A. 55-1,120, and amendmentsthereto, shall beremitted by thesecretary to the state treasurer in accordance with the provisions of K.S.A.75-4215, andamendments thereto. Upon receipt of each such remittence the state treasurershall deposit theentire amount in the state treasury to the credit of the salt solution miningwellplugging fund. The secretary is authorized to receive from the federalgovernment or any of itsagencies or from any private or governmental source any funds made availablefor the purposesof K.S.A. 55-1,120, and amendments thereto.

      (c)   Moneys in the salt solution mining well plugging fund shall be expendedonly for the purpose of investigating and plugging wells, identifyingresponsible parties andotherwise administering the provisions of K.S.A. 55-1,120, andamendments thereto.

      (d)   On or before the 10th of each month, the director of accounts and reportsshall transfer from the state general fund to the salt solution mining wellplugging fund interestearnings based on:

      (1)   The average daily balance of moneys in the salt solution mining wellplugging fund for the preceding month; and

      (2)   the net earnings rate for the pooled money investment portfolio for theprecedingmonth.

      (e)   All expenditures from the salt solution mining well pluggingfund shall bemade in accordance with appropriation acts upon warrants of the director ofaccounts and reportsissued pursuant to vouchers approved by the secretary or a person designated bythe secretary forthe purposes set forth in this section.

      History:   L. 2001, ch. 191, § 13; July 1.