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H.B. 25

             1     

MINERAL AND PETROLEUM LITERACY

             2     
2011 GENERAL SESSION

             3     
STATE OF UTAH

             4     
Chief Sponsor: Jack R. Draxler

             5     
Senate Sponsor: Margaret Dayton

             6     
             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
             27     


             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 [monies] money.
             38          (3) Account [monies] money shall be used to pay for [the]:
             39          (a) the administration of this chapter; [and]
             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[.]; and
             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 [monies] money shall be given to paying for the
             47      administration of this chapter.
             48          (5) Appropriations [for plugging and reclamation of abandoned oil or gas wells or bore,
             49      core, or exploratory holes shall be] made in accordance with Subsections (3)(b) and (c) are
             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 [monies] money at the end of the fiscal year above $750,000 shall be
             54      transferred to the General Fund.
             55          [(7) (a) As used in this Subsection (7), "excess fee revenue" means revenue collected in
             56      fiscal year 1999-2000 from the fee levied under Section 40-6-14 that exceeds the fee revenue
             57      appropriated to the Division of Oil, Gas, and Mining in fiscal year 1999-2000.]
             58          [(b) If there is a General Fund surplus for fiscal year 1999-2000, the Division of


             59      Finance shall transfer General Fund surplus monies to the Oil and Gas Conservation Account
             60      in an amount up to the excess fee revenue.]
             61          [(c) The transfer provided in Subsection (7)(b) shall be made after General Fund
             62      surplus monies are transferred to the General Fund Budget Reserve Account pursuant to
             63      Section 63J-1-312 .]




Legislative Review Note
    as of 11-17-10 12:31 PM


Office of Legislative Research and General Counsel


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