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H.B. 25
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7 LONG TITLE
8 Committee Note:
9 The Natural Resources, Agriculture, and Environment Interim Committee
10 recommended this bill.
11 General Description:
12 This bill allows the use of funds from the Oil and Gas Conservation Account to be used
13 for educational programs concerning mineral and petroleum resources and industries.
14 Highlighted Provisions:
15 This bill:
16 . allows the use of funds from the Oil and Gas Conservation Account to be used for
17 educational programs concerning mineral and petroleum resources and industries;
18 . provides that the funds appropriated for educational programs are nonlapsing; and
19 . makes technical changes.
20 Money Appropriated in this Bill:
21 None
22 Other Special Clauses:
23 None
24 Utah Code Sections Affected:
25 AMENDS:
26 40-6-14.5, as last amended by Laws of Utah 2009, Chapter 183
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28 Be it enacted by the Legislature of the state of Utah:
29 Section 1. Section 40-6-14.5 is amended to read:
30 40-6-14.5. Oil and Gas Conservation Account created -- Contents -- Use of
31 account money.
32 (1) There is created within the General Fund a restricted account known as the Oil and
33 Gas Conservation Account.
34 (2) The contents of the account shall consist of:
35 (a) revenues from the fee levied under Section 40-6-14 , including any penalties or
36 interest charged for delinquent payments; and
37 (b) interest and earnings on account [
38 (3) Account [
39 (a) the administration of this chapter; [
40 (b) the plugging and reclamation of abandoned oil or gas wells or bore, core, or
41 exploratory holes for which:
42 (i) there is no reclamation surety; or
43 (ii) the forfeited surety is insufficient for plugging and reclamation[
44 (c) public educational programs designed to increase knowledge of mineral and
45 petroleum resources and industries.
46 (4) Priority in the use of the [
47 administration of this chapter.
48 (5) Appropriations [
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50 nonlapsing.
51 (6) (a) The balance of the Oil and Gas Conservation Account at the end of a fiscal year
52 may not exceed $750,000.
53 (b) Any excess [
54 transferred to the General Fund.
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Legislative Review Note
as of 11-17-10 12:31 PM