59-5-116 - Disposition of certain taxes collected on Ute Indian land.
59-5-116. Disposition of certain taxes collected on Ute Indian land.
(1) Except as provided in Subsection (2), there shall be deposited into the Uintah BasinRevitalization Fund established in Section 9-10-102:
(a) for taxes imposed under this part, 33% of the taxes collected on oil, gas, or otherhydrocarbon substances produced from a well:
(i) for which production began on or before June 30, 1995; and
(ii) attributable to interests:
(A) held in trust by the United States for the Tribe and its members; or
(B) on lands identified in Pub. L. No. 440, 62 Stat. 72 (1948);
(b) for taxes imposed under this part, 80% of taxes collected on oil, gas, or otherhydrocarbon substances produced from a well:
(i) for which production began on or after July 1, 1995; and
(ii) attributable to interests:
(A) held in trust by the United States for the Tribe and its members; or
(B) on lands identified in Pub. L. No. 440, 62 Stat. 72 (1948); and
(c) for taxes imposed under this part, 80% of taxes collected on oil, gas, or otherhydrocarbon substances produced from a well:
(i) for which production began on or after January 1, 2001; and
(ii) attributable to interests on lands conveyed to the tribe under the Ute-Moab LandRestoration Act, Pub. L. No. 106-398, Sec. 3303.
(2) (a) The maximum amount deposited in the Uintah Basin Revitalization Fund may notexceed:
(i) $3,000,000 in fiscal year 2005-06;
(ii) $5,000,000 in fiscal year 2006-07;
(iii) $6,000,000 in fiscal years 2007-08 and 2008-09; and
(iv) for fiscal years beginning with fiscal year 2009-10, the amount determined by thecommission as described in Subsection (2)(b).
(b) (i) The commission shall increase or decrease the dollar amount described inSubsection (2)(a)(iii) by a percentage equal to the percentage difference between the consumerprice index for the preceding calendar year and the consumer price index for calendar year 2008;and
(ii) after making an increase or decrease under Subsection (2)(b)(i), round the dollaramount to the nearest whole dollar.
(c) For purposes of this Subsection (2), "consumer price index" is as described in Section1(f)(4), Internal Revenue Code, and defined in Section (1)(f)(5), Internal Revenue Code.
(d) Any amounts in excess of the maximum described in Subsection (2)(a) shall bedeposited into the General Fund.
Amended by Chapter 28, 2010 General Session