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 Subsectionexceeds 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)
(2) Except as provided in Section,,,,, or, a tax imposed and collected under Sectionshall be paid to the commission, promptly remitted to the state treasurer, and credited to the General Fund. 51-9-305 51-9-306 51-9-1102 59-5-116 59-5-119 59-5-121 59-5-102
(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.