On or before December 31, 2014, the United States shall:
Terms Used In Utah Code 63L-6-103
Net proceeds: means the proceeds from the sale of public lands, after subtracting expenses incident to the sale of the public lands. See Utah Code 63L-6-102
Public lands: means lands within the exterior boundaries of this state except:
(a)
lands to which title is held by a person who is not a governmental entity;
(b)
lands owned or held in trust by this state, a political subdivision of this state, or an independent entity;
(c)
lands reserved for use by the state system of public education as described in Utah Constitution Article X, Section 2, or a state institution of higher education listed in Section 53B-1-102;
(d)
school and institutional trust lands as defined in Section 53C-1-103;
(e)
lands within the exterior boundaries as of January 1, 2012, of the following that are designated as national parks:
(i)
Arches National Park;
(ii)
Bryce Canyon National Park;
(iii)
Canyonlands National Park;
(iv)
Capitol Reef National Park; and
(v)
Zion National Park;
(f)
lands within the exterior boundaries as of January 1, 2012, of the following national monuments managed by the National Park Service as of January 1, 2012:
(i)
Cedar Breaks National Monument;
(ii)
Dinosaur National Monument;
(iii)
Hovenweep National Monument;
(iv)
Natural Bridges National Monument;
(v)
Rainbow Bridge National Monument; and
(vi)
Timpanogos Cave National Monument;
(g)
lands within the exterior boundaries as of January 1, 2012, of the Golden Spike National Historic Site;
(h)
lands within the exterior boundaries as of January 1, 2012, of the following wilderness areas located in the state that, as of January 1, 2012, are designated as part of the National Wilderness Preservation System under the Wilderness Act of 1964, 16 U. See Utah Code 63L-6-102
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
United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
(a)
extinguish title to public lands; and
(b)
transfer title to public lands to the state.
(2)
If the state transfers title to any public lands with respect to which the state receives title under Subsection (1)(b), the state shall:
(a)
retain 5% of the net proceeds the state receives from the transfer of title; and
(b)
pay 95% of the net proceeds the state receives from the transfer of title to the United States.
(3)
In accordance with Utah Constitution Article X, Section 5, the amounts the state retains in accordance with Subsection (2)(a) shall be deposited into the permanent State School Fund.
