(1) In order to maximize the long-term benefit of severance taxes derived from lands held in trust by the United States for the Tribe and the Tribe's members by fostering funding mechanisms that will, consistent with sound financial practices, result in the greatest use of financial resources for the greatest number of citizens of the Uintah Basin, and in order to promote cooperation and coordination between the state, the state's political subdivisions, Indian tribes, and individuals, firms, and business organizations engaged in the development of oil and gas interests held in trust for the Tribe and the Tribe's members, there is created an expendable special revenue fund entitled the "Uintah Basin Revitalization Fund." (2) The fund consists of all money deposited into the Revitalization Fund under this part and Section 59-5-116. (3) (a) The Revitalization Fund shall earn interest. (b) All interest earned on fund money shall be deposited into the fund. (4) (a) Money required to be deposited into the Uintah Basin Revitalization Fund under Section 59-5-116 shall be deposited into the Uintah Basin Revitalization Fund if a business or activity fee or tax based on gross receipts has not been imposed by a county or the Tribe on oil and gas activities. (b) Nothing in this section prohibits a county from imposing a charge described in this Subsection (4) with respect to any gathering, transmission, or local distribution pipeline in which the county owns an interest. (c) Nothing in this section prohibits the Tribe from imposing a charge described in this Subsection (4) with respect to any gathering, transmission, or local distribution pipeline in which the Tribe owns an interest. Renumbered and Amended by Chapter 393, 2026 General Session
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