45-1331. Allocation of federal payments made in lieu of taxes
A. When payments are made by the United States, its agencies or instrumentalities to this state in lieu of taxes from the proceeds of any hydroelectric power development on the Colorado river, within the state or on the boundary thereof, pursuant to an act of Congress accepted by the state or otherwise, such payments shall be distributed sixty-six and two-thirds per cent to the state and thirty-three and one-third per cent to the county in which the federal property to which the payment relates is located. If the property to which the lieu payment relates is located in more than one county, the allocation shall be made on the basis of the value of the federal property in each such county, to be determined by the department of revenue.
B. Upon receipt of such payments the state treasurer shall distribute two thirds to the state general fund and the portion allocated to each county shall be placed in a special fund of such county to be used for recreational facilities, access roads and public works. Such special fund shall not be used to reduce the tax rate of such county.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.