2006 Utah Code - 53C-3-202 — Collection and distribution of revenues from federal land exchange parcels.

     53C-3-202.   Collection and distribution of revenues from federal land exchange parcels.
     (1) The director is responsible for the collection of all bonus payments, rentals, and royalties from the lease of:
     (a) minerals on acquired lands; and
     (b) acquired mineral interests.
     (2) The director shall:
     (a) except as provided in Subsections (3) and (4), no later than the last day of the second month following each calendar quarter, distribute all bonus payments received during the calendar quarter from the lease of coal, oil and gas, and coalbed methane on the identified tracts as follows:
     (i) 50% to the United States;
     (ii) 12.16% to the Permanent Community Impact Fund created in Section 9-4-303;
     (iii) 20% to the Constitutional Defense Restricted Account created in Section 63C-4-103;
     (iv) 15% to the Rural Electronic Commerce Communications System Fund created by Section 9-15-102; and
     (v) 2.84% to the Rural Development Fund created under Section 9-14-102; and
     (b) except as provided in Subsections (3) and (4), no later than the last day of the second month following each calendar quarter, distribute all rentals and royalties received during the calendar quarter from the lease of subject minerals on the acquired lands and the lease of acquired mineral interests as follows:
     (i) 50% to the Land Grant Management Fund created by Section 53C-3-101;
     (ii) 39.5% to the Mineral Lease Account created by Subsection 59-21-2(3);
     (iii) 4.5% to the Constitutional Defense Restricted Account created by Section 63C-4-103;
     (iv) 3.0% to the Rural Electronic Commerce Communications System Fund created by Section 9-15-102; and
     (v) 3.0% to the Rural Development Fund created by Section 9-14-102.
     (3) Notwithstanding Subsections (2)(a), (2)(b), and (4), if the distribution required by Subsection (2)(a)(iii), (2)(b)(iii), or (4) would cause the balance of the Constitutional Defense Restricted Account to exceed $2,000,000, the director shall distribute to the Permanent Community Impact Fund an amount equal to the difference between:
     (a) what the total balance of the Constitutional Defense Restricted Account would be if, but for this Subsection (3), a distribution described in Subsection (2)(a)(iii), (2)(b)(iii), or (4) was made; and
     (b) $2,000,000.
     (4) Notwithstanding Subsections (2)(a) and (b), and except as provided in Subsection (3), for each fiscal year the director shall deposit:
     (a) the first $750,000 of distributions required by Subsections (2)(a)(iv) and (2)(b)(iv) into the Rural Electronic Commerce Communications System Fund; and
     (b) any amounts exceeding the $750,000 described in Subsection (4)(a) that would be distributed into the Rural Electronic Commerce Communications System Fund but for this Subsection (4) into the Constitutional Defense Restricted Account.
     (5) (a) The director may retain up to 3% of the monies collected under Subsection (1) to pay for administrative costs incurred under Subsection (1).

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     (b) The administrative costs may be deducted prior to the distributions made under Subsections (2)(a) and (b).
     (c) The director shall keep the administrative cost deductions in separate accounts.
     (d) (i) For purposes of this section, administrative costs:
     (A) include:
     (I) direct costs incurred by the administration; and
     (II) out-of-pocket expenditures incurred by the administration that are directly attributable to leasing or management of the acquired lands for subject minerals or acquired mineral interests; and
     (B) shall be determined in a manner similar to that used by the federal government pursuant to 30 U.S.C. Sec. 191(b).
     (ii) If the administration includes out-of-pocket expenditures under Subsection (5)(d)(i) in determining its costs, those expenditures may not be included in its general calculation of direct costs.
     (e) (i) At the end of each fiscal year, the director shall reconcile the amount actually spent under Subsection (5)(d) with the amount retained under Subsection (5)(a).
     (ii) The monies retained under Subsection (5)(a) are nonlapsing.

Amended by Chapter 292, 2002 General Session