Section 259.052

Title XVI CONSERVATION, RESOURCES AND DEVELOPMENT

Chapter 259

Effective - 28 Aug 2015   

  259.052.  Oil and gas resources fund created, use of moneys. — 1.  There is hereby created in the state treasury the "Oil and Gas Resources Fund" which shall consist of all gifts, donations, transfers, moneys appropriated by the general assembly, permit application fees collected under section 259.080, operating fees, closure fees, late fees, severance fees, and bequests to the fund.  The fund shall be administered by the department of natural resources.

  2.  The state treasurer shall be custodian of the fund and may approve disbursements from the fund in accordance with sections 30.170 and 30.180.  Notwithstanding the provisions of section 33.080 to the contrary, any moneys remaining in the fund at the end of the biennium shall not revert to the credit of the general revenue fund.  The state treasurer shall invest moneys in the fund in the same manner as other funds are invested.  Any interest and moneys on such investments shall be credited to the fund.

  3.  After appropriation by the general assembly, the money in such fund shall be expended by the department to administer the provisions of chapter 259, and to collect, process, manage, interpret, and distribute geologic and hydrologic resource information pertaining to oil and gas potential, and not for any other purpose.

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(L. 2015 H.B. 92)