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2011 Ohio Revised Code
Title [1] I STATE GOVERNMENT
Chapter 131: REVENUES AND FUNDS
131.50 State land royalty fund.


OH Rev Code § 131.50 What's This?

(A) There is hereby created in the state treasury the state land royalty fund consisting of money credited to it under section 1509.73 of the Revised Code. Any investment proceeds earned on money in the fund shall be credited to the fund and used as required in division (B) of this section.

(B) Money in the state land royalty fund shall be used by state agencies to acquire land and to pay capital costs of state agencies, including equipment and renovations and repairs of facilities, that have contributed to the fund under section 1509.73 of the Revised Code. Such a state agency is entitled to receive from the fund the amount that the state agency contributed and a share of the investment earnings of the fund in an amount that is equivalent to the proportionate share of contributions made by the state agency to the fund.

(C) As used in this section, “state agency” has the same meaning as in section 1509.70 of the Revised Code.

Added by 129th General Assembly File No. 35, HB 133, § 1, eff. 9/30/2011.

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