9-4-301 - Legislative intent -- Purpose and policy. - Utah Statutes

9-4-301. Legislative intent -- Purpose and policy.
(1) It is the intent of the Legislature to make available funds received by the state fromfederal mineral lease revenues under Section 59-21-2, bonus payments on federal oil shale leasetracts U-A and U-B, and all other bonus payments on federal mineral leases to be used for thealleviation of social, economic, and public finance impacts resulting from the development ofnatural resources in this state, subject to the limitations provided for in Section 35 of the MineralLeasing Act of 1920 (41 Stat. 450, 30 U.S.C. Sec. 191).
(2) The purpose of this part is to maximize the long term benefit of funds derived fromthese lease revenues and bonus payments by fostering funding mechanisms which will,consistent with sound financial practices, result in the greatest use of financial resources for thegreatest number of citizens of this state, with priority given to those communities designated asimpacted by the development of natural resources covered by the Mineral Leasing Act.
(3) The policy of this state is to promote cooperation and coordination between the stateand its agencies and political subdivisions with individuals, firms, and business organizationsengaged in the development of the natural resources of this state. The purpose of such effortsinclude private sector participation, financial and otherwise, in the alleviation of impactsassociated with resources development activities.

Amended by Chapter 378, 2010 General Session