Utah Code Title 53C. School and Institutional Trust Lands Management Act § 53C-3-202. Collection and distribution of revenues from federal land exchange parcels

(a) minerals on acquired lands;

(b) acquired mineral interests;

(c) minerals on exchanged lands; and

(d) exchanged mineral interests.

(a) bonus payments received during the calendar quarter from the lease of coal, oil and gas, and coalbed methane on the identified tracts as follows:

(b) rentals and royalties received during the calendar quarter from the lease of subject minerals on the acquired lands and the lease of acquired mineral interests as follows:

(c) mineral bonus, rental, and royalty revenue generated from the lease of subject minerals, other than oil shale, on exchanged lands or from the lease of exchanged mineral interests, other than interests in oil shale, as follows:

(d) mineral bonus, rental, and royalty revenue generated from the lease of oil shale on exchanged lands or the lease of exchanged mineral interests that are interests in oil shale, net of amounts paid to the United States pursuant to a reserved interest of the United States in oil shale, as follows:

(3)(a) Except as provided in Subsection (3)(c), the director may retain up to 3% of the money collected under Subsection (1) to pay for administrative costs incurred under Subsections (1) and (2).

(b) Except as provided in Subsection (3)(c), the director may deduct administrative costs before distributions are made under Subsection (2).

(c) The director may not deduct administrative costs from the portion of collections derived from minerals on exchanged lands or exchanged mineral interests that is equal to the United States' reserved interest in oil shale.

(d) The director shall keep the administrative cost deductions in separate accounts.

(e) The money retained under Subsection (3)(a) is nonlapsing.

(f) The director shall distribute in accordance with Subsection (2) the unused balance of the money retained under Subsection (3)(a) that exceeds $2,000,000 at the end of a fiscal year.