US Laws, Codes, Statutes & Cases

§24B-5-3. Funding; property and revenue license fees.

(a) Every pipeline company shall pay a special license fee in addition to those now required by law. The amount of such fees shall be fixed by the public service commission and levied by it upon each of such pipeline companies according to the number of three-inch equivalent pipeline miles included in its pipeline facilities, and shall be apportioned among such pipeline companies upon the basis of the pipeline companies' reports submitted to the commission in such form as the commission may prescribe, so as to produce a revenue of not more than three hundred thousand dollars per annum, which fees shall be paid on or before the first day of July in each year.
(b) Such sums collected under subsection (a) of this section shall be paid into the state treasury and kept as a special fund, designated "public service commission pipeline safety fund," to be appropriated as provided by law for the purpose of paying the salaries, compensation, costs and expenses of its employees. Any balance in said fund at the end of any fiscal year shall not revert to the treasury, but shall remain in said fund and may be appropriated as provided in this subsection. All funds which heretofore were in the "public service commission gas pipeline safety fund" shall be transferred to the "public service commission pipeline safety fund."