Renumbered 7/1/2023
| (1) |
As used in this section:
Terms Used In Utah Code 65A-5-1.5- 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
- Division: means the Division of Forestry, Fire, and State Lands. See Utah Code 65A-1-1
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
- Sovereign lands: means those lands lying below the ordinary high water mark of navigable bodies of water at the date of statehood and owned by the state by virtue of its sovereignty. See Utah Code 65A-1-1
- 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
| (a) |
“Account” means the Great Salt Lake Account created in this section. |
| (b) |
“Mineral” includes a chemical compound that includes an element or mineral. |
| (c) |
“Mining” means the process of producing, extracting, leaching, evaporating, or otherwise removing a mineral from a natural deposit of the mineral. |
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| (2) |
| (a) |
There is created within the General Fund a restricted account known as the “Great Salt Lake Account” consisting of:
| (i) |
revenues deposited into the account under Subsection (3); |
| (ii) |
appropriations from the Legislature; and |
| (iii) |
interest and other earnings described in Subsection (2)(b). |
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| (b) |
The Office of the Treasurer shall deposit interest and other earnings derived from investment of money in the account into the account. |
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| (3) |
The division shall deposit into the account the royalty income received by the state from mining that occurs on or after July 1, 2022, of a mineral from the sovereign lands of the Great Salt Lake if during the fiscal year beginning July 1, 2020, the state did not receive royalty income from the mining of that same mineral from the sovereign lands of the Great Salt Lake. |
| (4) |
Upon appropriation by the Legislature, money in the account may be used to manage the water levels of the Great Salt Lake. |
Amended by Chapter 208, 2023 General Session
