Division of Oil, Gas, and Mining Restricted Account.
Checkout our iOS App for a better way to browser and research.
(1) As used in this section:
(a) "Account" means the Division of Oil, Gas, and Mining Restricted Account created by this section.
(b) "Division" means the Division of Oil, Gas, and Mining.
(2)
(a) There is created a restricted account within the General Fund known as the "Division of Oil, Gas, and Mining Restricted Account."
(b) The account consists of:
(i) deposits to the account made under Section 51-9-306;
(ii) appropriations of the Legislature; and
(iii) interest and other earnings described in Subsection (2)(c).
(c) The Office of the Treasurer shall deposit interest and other earnings derived from investment of money in the account into the account.
(3)
(a) Upon appropriation by the Legislature, the division shall use money from the account to pay the costs of programs or projects administered by the division.
(b) An appropriation provided for under this section is not intended to replace the following that is otherwise allocated for the programs or projects described in Subsection (3)(a):
(i) federal money; or
(ii) a dedicated credit.
(4) Appropriations made in accordance with this section are nonlapsing in accordance with Section 63J-1-602.1.