(1) Except as provided in Subsection (2), there shall be deposited into the Navajo Revitalization Fund established in Section 35A-8-1704 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.
(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
(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.
(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: (i) $2,000,000 in fiscal year 2006-07; and (ii) $3,000,000 for fiscal years beginning with fiscal year 2007-08. (b) Any amounts in excess of the maximum described in Subsection (2)(a) shall be credited as provided in Sections 51-9-305 and 59-5-115.
(a) The maximum amount deposited in the Navajo Revitalization Fund may not exceed: (i) $2,000,000 in fiscal year 2006-07; and (ii) $3,000,000 for fiscal years beginning with fiscal year 2007-08.
(i) $2,000,000 in fiscal year 2006-07; and
(ii) $3,000,000 for fiscal years beginning with fiscal year 2007-08.
(b) Any amounts in excess of the maximum described in Subsection (2)(a) shall be credited as provided in Sections 51-9-305 and 59-5-115.
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.