Section 203 – Land Exchange Distribution Account.
Affected by 63I-1-253 on 7/1/2030 Effective 5/12/2020 53C-3-203. Land Exchange Distribution Account. (1) As used in this section, “account” means the Land Exchange Distribution Account created in Subsection (2)(a). (2) (a) There is created within the General Fund a restricted account known as the Land Exchange Distribution Account. (b) The account shall consist of revenue […]
Section 103 – Disposition of interest on permanent funds.
Effective 7/1/2017 53C-3-103. Disposition of interest on permanent funds. The trust distributions derived from the investment of funds belonging to the permanent State School Fund and the permanent funds of the respective state institutions shall be distributed for use for the maintenance of public elementary and secondary schools or the state institutions in accordance with […]
Section 104 – Disposition of reservoir land grant revenue.
53C-3-104. Disposition of reservoir land grant revenue. Money from the sale or management of land selected under the Reservoir Land Grant for the establishment of permanent water reservoirs and water development and conservation projects for irrigation purposes shall be deposited in the Water Resources Construction Fund created in Section 73-10-8. Enacted by Chapter 294, 1994 […]
Section 105 – Disposition of revenue for normal schools.
53C-3-105. Disposition of revenue for normal schools. Money distributed for the benefit of the state’s normal schools, as provided under the Utah Enabling Act, Section 12, Utah Constitution Article X, Section 7, Utah Constitution Article XX, Section 2, and Sections 53C-3-101 and 53C-3-103, shall be allocated to institutions within the state system of higher education, […]
Section 202 – Collection and distribution of revenues from federal land exchange parcels.
53C-3-202. Collection and distribution of revenues from federal land exchange parcels. (1) The director shall collect all bonus payments, rentals, and royalties from the lease of: (a) minerals on acquired lands; (b) acquired mineral interests; (c) minerals on exchanged lands; and (d) exchanged mineral interests. (2) No later than the last day of the second […]
Section 101 – Land Grant Management Fund — Contents — Use of money.
Effective 7/1/2017 53C-3-101. Land Grant Management Fund — Contents — Use of money. (1) (a) There is created an enterprise fund known as the Land Grant Management Fund. (b) This fund shall consist of: (i) all revenues derived from trust lands except revenues from the sale of those lands; (ii) all interest earned by the […]
Section 102 – Deposit and allocation of money received.
Effective 5/5/2021 53C-3-102. Deposit and allocation of money received. (1) (a) The director shall pay to the School and Institutional Trust Fund Office, created in Section 53D-1-201, all money received, accompanied by a statement showing the respective sources of this money. (b) The administration and the School and Institutional Trust Fund Office shall enter into […]