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January 19, 2000
Mr. Speaker:
The Natural Resources, Agriculture, and Environment Committee reports a favorable recommendation on H.B. 170, OIL AND GAS CONSERVATION ACCOUNT, by Representative J. Seitz, et al. with the following amendments:
1. Page 3, Lines 81-88: Delete lines 81-88 and insert the following:
"(7)(a) As used in this Subsection (7), "excess fee revenue" means revenue collected in fiscal year 1999-2000 from the fee levied under Section 40-6-14 that exceeds the fee revenue appropriated to the Division of Oil, Gas, and Mining in fiscal year 1999-2000.
(b) If there is a General Fund surplus for fiscal year 1999-2000, the Division of Finance shall transfer General Fund surplus monies to the Oil and Gas Conservation Account in an amount up to the excess fee revenue.
(c) The transfer provided in Subsection (7)(b) shall be made after General Fund surplus monies are transferred to the Budget Reserve Account pursuant to Section 63-38-2.5."
Respectfully,
Bradley T. Johnson
Committee Chair
Voting: 12-0-2
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Bill Number
Action Code
*HB0170*
*HCRAMD*
HB0170
HCRAMD