Section 403 – Utah Geological Survey Oil, Gas, and Mining Restricted Account.

• (1) As used in this section:
  • (a) “Account” means the Utah Geological Survey Oil, Gas, and Mining Restricted Account created by this section.
  • (b) “Survey” means the Utah Geological Survey.

• (2)
  • (a) There is created a restricted account within the General Fund known as the “Utah Geological Survey Oil, Gas, and Mining Restricted Account.”
  • (b) The account consists of:
    • (i) deposits to the account made under Section 51-9-306;
    • (ii) appropriations of the Legislature; and
    • (iii) interest and other earnings described in Subsection (2)(c).
  • (c) The Office of the Treasurer shall deposit interest and other earnings derived from investment of money in the account into the account.

• (3)
  • (a) Upon appropriation by the Legislature, the survey shall use money from the account to pay costs of programs or projects administered by the survey that are primarily related to oil, gas, and mining.
  • (b) An appropriation provided for under this section is not intended to replace the following that is otherwise allocated for the programs or projects described in Subsection (3)(a):
    • (i) federal money; or
    • (ii) a dedicated credit.

• (4) Appropriations made in accordance with this section are nonlapsing in accordance with Section 63J-1-602.1.

Enacted by Chapter 401, 2021 General Session