Utah § 59-5-115 - Disposition of taxes collected -- Credit to General Fund.
Full text of Utah Utah Code § 59-5-115 — Disposition of taxes collected -- Credit to General Fund., with citation guidance and answers to common questions.
§ 59-5-115. Disposition of taxes collected -- Credit to General Fund.
59-5-115. Disposition of taxes collected -- Credit to General Fund.
| (1) | As used in this section, "above-trend revenue" means the amount by which the actual revenue from the oil and gas severance tax deposited into the General Fund under Subsection (2) exceeds the long-term trend of oil and gas severance tax revenue to the General Fund as determined by the Office of the Legislative Fiscal Analyst and the Governor's Office of Planning and Budget. |
| (2) | Except as provided in Section 51-9-305, 51-9-306, 51-9-1102, 59-5-116, 59-5-119, or 59-5-121, a tax imposed and collected under Section 59-5-102 shall be paid to the commission, promptly remitted to the state treasurer, and credited to the General Fund. |
| (3) | The Division of Finance shall transfer above-trend revenue up to $20,000,000 from the General Fund into the Transportation Investment Fund each year beginning in the fiscal year beginning July 1, 2023, until the amount deposited into the Transportation Investment Fund totals $88,500,000. |
Amended by Chapter 493, 2026 General Session
Source: official Utah text · Last verified 2026-08-27
Frequently Asked Questions About Utah § 59-5-115
What does Utah Code § 59-5-115 cover?
Section 59-5-115 ("Disposition of taxes collected -- Credit to General Fund.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 59-5-115?
A common citation format is "Utah Code § 59-5-115" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 59-5-115 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Utah.