§ 35A-8-1602. Legislative intent -- Uintah Basin Revitalization Fund -- Deposits and contents.

(1) In order to maximize the long-term benefit of severance taxes derived from lands held in trust by the United States for the Tribe and its members by fostering funding mechanisms that will, consistent with sound financial practices, result in the greatest use of financial resources for the greatest number of citizens of the Uintah Basin, and in order to promote cooperation and coordination between the state, its political subdivisions, Indian tribes, and individuals, firms, and business organizations engaged in the development of oil and gas interests held in trust for the Tribe and its members, there is created an expendable special revenue fund entitled the "Uintah Basin Revitalization Fund."

(2) The fund consists of all money deposited to the Revitalization Fund under this part and Section 59-5-116.

(3)

(a) The Revitalization Fund shall earn interest.

(b) All interest earned on fund money shall be deposited into the fund.

Amended by Chapter 400, 2013 General Session