Indiana Code 6-8-1-27. Disposition of revenues
Current as of: 2023 | Check for updates
|
Other versions
Sec. 27. (a) Money received under this chapter shall be paid by the department into a fund to be kept by the treasurer of state and known as the oil and gas fund.
(1) To the expenses of administering this chapter.
(b) Money paid into this fund shall be devoted to the following purposes upon appropriation:
Terms Used In Indiana Code 6-8-1-27
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- department: refers to the department of state revenue. See Indiana Code 6-8-1-2
- oil: means petroleum that maintains a liquid state at atmospheric conditions. See Indiana Code 6-8-1-5
- petroleum: means all hydrocarbons produced at a well in a liquid or gaseous state. See Indiana Code 6-8-1-5
(2) To the division of reclamation of the department of natural resources for the purpose of administering IC 14-37.
(3) To research pertaining to exploration for, development of, and wise use of petroleum resources in Indiana.
Formerly: Acts 1947, c.278, s.27. As amended by Acts 1982, P.L.63, SEC.1; P.L.109-1988, SEC.17; P.L.1-1995, SEC.53; P.L.127-2022, SEC.1.