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S.B. 96 Enrolled

             1     

UINTAH BASIN REVITALIZATION FUND

             2     
AMENDMENTS

             3     
2010 GENERAL SESSION

             4     
STATE OF UTAH

             5     
Chief Sponsor: Kevin T. Van Tassell

             6     
House Sponsor: John G. Mathis

             7     
             8      LONG TITLE
             9      General Description:
             10          This bill modifies a provision relating to the Uintah Basin Revitalization Fund.
             11      Highlighted Provisions:
             12          This bill:
             13          .    modifies the calendar year designation in a provision requiring an adjustment in an
             14      amount to be deposited into the Uintah Basin Revitalization Fund based on a
             15      change in the consumer price index.
             16      Monies Appropriated in this Bill:
             17          None
             18      Other Special Clauses:
             19          None
             20      Utah Code Sections Affected:
             21      AMENDS:
             22          59-5-116, as last amended by Laws of Utah 2007, Chapter 104
             23     
             24      Be it enacted by the Legislature of the state of Utah:
             25          Section 1. Section 59-5-116 is amended to read:
             26           59-5-116. Disposition of certain taxes collected on Ute Indian land.
             27          (1) Except as provided in Subsection (2), there shall be deposited into the Uintah
             28      Basin Revitalization Fund established in Section 9-10-102 :
             29          (a) for taxes imposed under this part, 33% of the taxes collected on oil, gas, or other


             30      hydrocarbon substances produced from a well:
             31          (i) for which production began on or before June 30, 1995; and
             32          (ii) attributable to interests:
             33          (A) held in trust by the United States for the Tribe and its members; or
             34          (B) on lands identified in Pub. L. No. 440, 62 Stat. 72 (1948);
             35          (b) for taxes imposed under this part, 80% of taxes collected on oil, gas, or other
             36      hydrocarbon substances produced from a well:
             37          (i) for which production began on or after July 1, 1995; and
             38          (ii) attributable to interests:
             39          (A) held in trust by the United States for the Tribe and its members; or
             40          (B) on lands identified in Pub. L. No. 440, 62 Stat. 72 (1948); and
             41          (c) for taxes imposed under this part, 80% of taxes collected on oil, gas, or other
             42      hydrocarbon substances produced from a well:
             43          (i) for which production began on or after January 1, 2001; and
             44          (ii) attributable to interests on lands conveyed to the tribe under the Ute-Moab Land
             45      Restoration Act, Pub. L. No. 106-398, Sec. 3303.
             46          (2) (a) The maximum amount deposited in the Uintah Basin Revitalization Fund may
             47      not exceed:
             48          (i) $3,000,000 in fiscal year 2005-06;
             49          (ii) $5,000,000 in fiscal year 2006-07;
             50          (iii) $6,000,000 in fiscal years 2007-08 and 2008-09; and
             51          (iv) for fiscal years beginning with fiscal year 2009-10, the amount determined by the
             52      commission as described in Subsection (2)(b).
             53          (b) (i) The commission shall increase or decrease the dollar amount described in
             54      Subsection (2)(a)(iii) by a percentage equal to the percentage difference between the consumer
             55      price index for the preceding calendar year and the consumer price index for calendar year
             56      [2007-08] 2008; and
             57          (ii) after making an increase or decrease under Subsection (2)(b)(i), round the dollar


             58      amount to the nearest whole dollar.
             59          (c) For purposes of this Subsection (2), "consumer price index" is as described in
             60      Section 1(f)(4), Internal Revenue Code, and defined in Section (1)(f)(5), Internal Revenue
             61      Code.
             62          (d) Any amounts in excess of the maximum described in Subsection (2)(a) shall be
             63      deposited into the General Fund.


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