9-10-102 - Legislative intent -- Uintah Basin Revitalization Fund -- Deposits and contents. - Utah Statutes

9-10-102. Legislative intent -- Uintah Basin Revitalization Fund -- Deposits andcontents.
(1) In order to maximize the long-term benefit of severance taxes derived from landsheld in trust by the United States for the Tribe and its members by fostering funding mechanismsthat will, consistent with sound financial practices, result in the greatest use of financial resourcesfor the greatest number of citizens of the Uintah Basin, and in order to promote cooperation andcoordination between the state, its political subdivisions, Indian tribes, and individuals, firms,and business organizations engaged in the development of oil and gas interests held in trust forthe Tribe and its members, there is created a restricted special revenue fund entitled the "UintahBasin Revitalization Fund."
(2) The fund consists of all money deposited to the Revitalization Fund under this partand Section 59-5-116.
(3) (a) The Revitalization Fund shall earn interest.
(b) All interest earned on fund money shall be deposited into the fund.

Amended by Chapter 256, 2002 General Session