(1) There is created an enterprise fund entitled the "Permanent Community Impact Fund."
(2) The fund consists of: (a) all amounts appropriated to the impact fund under Section 59-21-2; (b) bonus payments deposited to the impact fund under Subsection 59-21-1(2); (c) all amounts appropriated to the impact fund under Section 53C-3-203; (d) all amounts received for the repayment of loans made by the impact board under this chapter; and (e) all other money appropriated or otherwise made available to the impact fund by the Legislature.
(a) all amounts appropriated to the impact fund under Section 59-21-2;
(b) bonus payments deposited to the impact fund under Subsection 59-21-1(2);
(c) all amounts appropriated to the impact fund under Section 53C-3-203;
(d) all amounts received for the repayment of loans made by the impact board under this chapter; and
(e) all other money appropriated or otherwise made available to the impact fund by the Legislature.
(3) The state treasurer shall: (a) invest the money in the impact fund by following the procedures and requirements of Title 51, Chapter 7, State Money Management Act; and (b) deposit all interest or other earnings derived from those investments into the impact fund.
(a) invest the money in the impact fund by following the procedures and requirements of Title 51, Chapter 7, State Money Management Act; and
(b) deposit all interest or other earnings derived from those investments into the impact fund.
(4) The amounts in the impact fund available for loans, grants, administrative costs, or other purposes of this part shall be limited to that which the Legislature appropriates for these purposes.
(5) Federal mineral lease revenue received by the state under the Leasing Act that is deposited into the impact fund shall be used: (a) in a manner consistent with the provisions of: (i) the Leasing Act; and (ii) this part; and (b) for loans, grants, or both to state agencies or subdivisions that are socially or economically impacted by the leasing of minerals under the Leasing Act.
(a) in a manner consistent with the provisions of: (i) the Leasing Act; and (ii) this part; and
(i) the Leasing Act; and
(ii) this part; and
(b) for loans, grants, or both to state agencies or subdivisions that are socially or economically impacted by the leasing of minerals under the Leasing Act.
(6) The money described in Subsection (2)(c) shall be used for grants to political subdivisions of the state to mitigate the impacts resulting from the development or use of school and institutional trust lands.
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.