| (1) |
In order to maximize the long-term benefit of severance taxes derived from lands held in trust by the United States for the Tribe and its members by fostering funding mechanisms that will, consistent with sound financial practices, result in the greatest use of financial resources for the greatest number of citizens of the Uintah Basin, and in order to promote cooperation and coordination 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 for the Tribe and its members, there is created an expendable special revenue fund entitled the “Uintah Basin Revitalization Fund.” |
Terms Used In Utah Code 35A-8-1602
- Revitalization Fund: means the Uintah Basin Revitalization Fund. See Utah Code 35A-8-1601
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- Tribe: means the Ute Indian Tribe of the Uintah and Ouray Reservation. See Utah Code 35A-8-1601
- United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
| (2) |
The fund consists of all money deposited to the Revitalization Fund under this part and 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. |
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Amended by Chapter 400, 2013 General Session
