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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) Except as provided in Subsection (2), there shall be deposited into the Uintah Basin Revitalization Fund established in Section 35A-8-1602:
(a) for taxes imposed under this part, 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, 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 other hydrocarbon 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 other hydrocarbon 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 Land Restoration Act, Pub. L. No. 106-398, Sec. 3303.
(2)(a) The maximum amount deposited in the Uintah Basin Revitalization Fund may not exceed:
(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 the commission as described in Subsection (2)(b).
(b)(i) The commission shall increase or decrease the dollar amount described in Subsection (2)(a)(iii) by a percentage equal to the percentage difference between the consumer price 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 dollar amount to the nearest whole dollar.
(c) For purposes of this Subsection (2), “consumer price index” is as described in Section 1(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 be credited as provided in Sections 51-9-305, 51-9-306, 51-9-307, and 59-5-115.
Cite this article: FindLaw.com - Utah Code Title 59. Revenue and Taxation § 59-5-116. Disposition of certain taxes collected on Ute Indian land - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-59-revenue-and-taxation/ut-code-sect-59-5-116/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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