15-38-302. Natural resources projects state special revenue account created -- revenue allocated -- limitations on appropriations from account. (1) There is a natural resources projects state special revenue account within the state special revenue fund established in 17-2-102.
(2) There must be paid into the natural resources projects state special revenue account money allocated from:
(a) the interest income of the resource indemnity trust fund under the provisions of 15-38-202;
(b) the resource indemnity and ground water assessment tax under the provisions of 15-38-106;
(c) the oil and natural gas production tax as provided in 15-36-331; and
(d) the excess of the coal severance tax proceeds allocated by 85-1-603 to the renewable resource loan debt service fund above debt service requirements as provided in and subject to the conditions of 85-1-619.
(3) Appropriations may be made from the natural resources projects state special revenue account for grants and loans for designated projects and the activities authorized in 85-1-602 and 90-2-1102.
History: En. Sec. 28, Ch. 432, L. 2007.