1998 Florida Code
TITLE XIV TAXATION AND FINANCE
Chapter 211 Tax On Production Of Oil And Gas And Severance Of Solid Minerals  
PART I TAX ON PRODUCTION OF OIL AND GAS (ss. 211.01-211.25)
211.06   Oil and Gas Tax Trust Fund; distribution of tax proceeds.

1211.06  Oil and Gas Tax Trust Fund; distribution of tax proceeds.--All taxes, interest, and penalties imposed under this part shall be collected by the department and placed in a special fund designated the "Oil and Gas Tax Trust Fund."

(1)  There is hereby annually appropriated a sufficient amount from the Oil and Gas Tax Trust Fund for the Comptroller to refund any overpayments which have been properly approved.

(2)  The remaining proceeds in the Oil and Gas Tax Trust Fund shall be distributed monthly by the department and shall be paid into the State Treasury, through June 30, 1995, as follows:

(a)  To the credit of the General Revenue Fund of the state:

1.  Eighty-seven and one-half percent of the proceeds from the oil production tax imposed under s. 211.02(1)(b).

2.  Eighty percent of the proceeds from the tax on small well oil and tertiary oil imposed under s. 211.02(1)(a).

3.  Eighty percent of the proceeds from the tax on gas imposed under s. 211.025.

4.  Eighty percent of the proceeds of the tax on sulfur imposed under s. 211.026.

(b)  To the credit of the general revenue fund of the board of county commissioners of the county where produced, subject to the service charge imposed under chapter 215:

1.  Twelve and one-half percent of the proceeds from the tax on oil imposed under s. 211.02(1)(b).

2.  Twenty percent of the proceeds from the tax on small well oil and tertiary oil imposed under s. 211.02(1)(a).

3.  Twenty percent of the proceeds from the tax on gas imposed under s. 211.025.

4.  Twenty percent of the proceeds from the tax on sulfur imposed under s. 211.026.

(3)  Beginning July 1, 1995, the remaining proceeds in the Oil and Gas Tax Trust Fund shall be distributed monthly by the department and shall be paid into the State Treasury as follows:

(a)  To the credit of the General Revenue Fund of the state:

1.  Seventy-five percent of the proceeds from the oil production tax imposed under s. 211.02(1)(b).

2.  Sixty-seven and one-half percent of the proceeds from the tax on small well oil and tertiary oil imposed under s. 211.02(1)(a).

3.  Sixty-seven and one-half percent of the proceeds from the tax on gas imposed under s. 211.025.

4.  Sixty-seven and one-half percent of the proceeds of the tax on sulfur imposed under s. 211.026.

(b)  To the credit of the general revenue fund of the board of county commissioners of the county where produced, subject to the service charge imposed under chapter 215:

1.  Twelve and one-half percent of the proceeds from the tax on oil imposed under s. 211.02(1)(b).

2.  Twenty percent of the proceeds from the tax on small well oil and tertiary oil imposed under s. 211.02(1)(a).

3.  Twenty percent of the proceeds from the tax on gas imposed under s. 211.025.

4.  Twenty percent of the proceeds from the tax on sulfur imposed under s. 211.026.

(c)  To the credit of the Minerals Trust Fund:

1.  Twelve and one-half percent of the proceeds from the tax on oil imposed under s. 211.02(1)(b).

2.  Twelve and one-half percent of the proceeds from the tax on small well and tertiary oil imposed under s. 211.02(1)(a).

3.  Twelve and one-half percent of the proceeds from the tax on gas imposed under s. 211.025.

4.  Twelve and one-half percent of the proceeds from the tax on sulfur imposed under s. 211.026.

History.--s. 6, ch. 22784, 1945; s. 6, ch. 23883, 1947; s. 2, ch. 61-119; s. 1, ch. 65-146; ss. 21, 35, ch. 69-106; s. 13, ch. 83-137; s. 6, ch. 86-178; s. 8, ch. 87-96; s. 1, ch. 94-197.

1Note.--Section 2, ch. 94-198, as amended by s. 73, ch. 96-321, provides that:

"(1)  The Minerals Trust Fund shall, unless terminated sooner, be terminated on July 1, 1998.

"(2)  Prior to the regular legislative session immediately preceding the date on which the trust fund is scheduled to be terminated, the Department of Environmental Protection and the Governor shall recommend to the President of the Senate and the Speaker of the House of Representatives whether the trust fund should be allowed to terminate or should be re-created. These recommendations shall be based on a review of the purpose and use of the trust fund and a determination of whether the trust fund will continue to be necessary. A recommendation to re-create the trust fund may include suggested modifications to the purpose, sources of receipts, and allowable expenditures for the trust fund. The department's recommendation shall be made as a part of its legislative budget request to the Legislature pursuant to s. 216.023, Florida Statutes. The Governor's recommendation shall be made as a part of the recommended budget presented to the Legislature pursuant to s. 216.162, Florida Statutes.

"(3)  If the trust fund is terminated, the Department of Environmental Protection shall pay any outstanding debts or obligations of the trust fund as soon as practicable and the Comptroller shall close out and remove the trust fund from the various state accounting systems, using generally accepted accounting practices concerning warrants outstanding, assets, and liabilities."