256.705. Fund created, use of moneys.
Fund created, use of moneys.
256.705. 1. All sums received through the payment of fees undersection 256.700 shall be placed in the state treasury and credited to the"Geologic Resources Fund" which is hereby created.
2. After appropriation by the general assembly, the money in suchfund shall be expended to collect, process, manage, and distribute geologicand hydrologic resource information pertaining to mineral resourcepotential in order to assist the mineral industry and for no other purpose.Such funds shall be utilized by the division of geology and land surveywithin the department of natural resources.
3. Any portion of the fund not immediately needed for the purposesauthorized shall be invested by the state treasurer as provided by theconstitution and laws of this state. All income from such investmentsshall, unless otherwise prohibited by the constitution of this state, bedeposited in the geologic resources fund. The provisions of section33.080, RSMo, relating to the transfer of unexpended balances in variousfunds to the general revenue fund at the end of each biennium shall notapply to funds in the geologic resources fund.
4. General revenue of the state or other state funds may beappropriated or expended for the administration of sections 256.700 to256.710. The state geologist may enter into a memorandum of understandingor other agreement that allows for state or federal funds to supplement thegeologic resources fund.
(L. 2007 S.B. 54)Effective 1-01-08