2006 Utah Code - 59-5-119 — Disposition of certain taxes collected on Navajo Nation Land located in Utah.

     59-5-119.   Disposition of certain taxes collected on Navajo Nation Land located in Utah.
     (1) Except as provided in Subsection (2), there shall be deposited into the Navajo Revitalization Fund established in Section 9-11-104 for taxes imposed under this part beginning on July 1, 1997:
     (a) 33% of the taxes collected on oil, gas, or other hydrocarbon substances produced from a well:
     (i) for which production began on or before June 30, 1996; and
     (ii) attributable to interests in Utah held in trust by the United States for the Navajo Nation and its members; and
     (b) 80% of the taxes collected on oil, gas, or other hydrocarbon substances produced from a well:
     (i) for which production began on or after July 1, 1996; and
     (ii) attributable to interests in Utah held in trust by the United States for the Navajo Nation and its members.
     (2) (a) The maximum amount deposited in the Navajo Revitalization Fund may not exceed $2,000,000 in any state fiscal year.
     (b) Any amounts in excess of the maximum described in Subsection (2)(a) shall be deposited into the General Fund.

Amended by Chapter 150, 2001 General Session