Repealed 7/1/2026
172 words·~1 min read·
/ut/title-51/chapter-9/7-9A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 1/1/2025
Repealed 7/1/2026
51-9-307. New Severance Tax Revenue Special Revenue Fund.
(1)As used in this section:
(a)"Fund" means the New Severance Tax Revenue Special Revenue Fund created in this section.
(b)"New revenue" means revenue collected above $100,000,000 from the taxes imposed under Title 59, Chapter 5, Severance Tax on Oil, Gas, and Mining, after subtracting the amounts required to be distributed under Sections 51-9-305 , 51-9-306 , 59-5-116 , 59-5-119 , and 59-5-121 and under Subsection 59-5-202 (5)(c).
(2)There is created a special revenue fund known as the "New Severance Tax Revenue Special Revenue Fund" that consists of:
(a)money deposited by the State Tax Commission in accordance with this section; and
(b)interest earned on the money in the fund.
(3)Beginning July 1, 2021, the State Tax Commission shall deposit into the fund 100% of new revenue until the new revenue equals or exceeds $200,000,000 in a fiscal year.
Repealed by Chapter 493 , 2026 General Session
Amended by Chapter 25 , 2024 General Session