4-2-8.5 - Salinity Offset Fund.
4-2-8.5. Salinity Offset Fund.
(1) As used in this section, "Colorado River Salinity Offset Program" means a program,administered by the Division of Water Quality, allowing oil, gas, or mining companies and otherentities to provide funds to finance salinity reduction projects in the Colorado River Basin bypurchasing salinity credits as offsets against discharges made by the company under permitsissued by the Division of Water Quality.
(2) (a) There is created a restricted special revenue fund known as the "Salinity OffsetFund."
(b) The fund shall consist of:
(i) monies received from the Division of Water Quality that have been collected as partof the Colorado River Salinity Offset Program;
(ii) grants from local governments, the state, or the federal government;
(iii) grants from private entities; and
(iv) interest on fund monies.
(3) Any unallocated balance in the fund at the end of a fiscal year is nonlapsing.
(4) (a) The department shall:
(i) subject to the rules established under Subsection (4)(a)(ii), distribute fund monies tofarmers, ranchers, mutual irrigation companies, and other entities in the state to assist infinancing irrigation, rangeland, and watershed improvement projects that will, in accordance withthe Colorado River Salinity Offset Program, reduce salinity in the Colorado River; and
(ii) in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, makerules establishing:
(A) a project funding application process;
(B) project funding requirements;
(C) project approval criteria; and
(D) standards for evaluating the effectiveness of funded projects in reducing salinity inthe Colorado River.
(b) The department may require entities seeking fund monies to provide matching funds.
(c) The department shall submit to the Water Quality Board's executive secretaryproposed funding projects for the executive secretary's review and approval.
(5) The department may use fund monies for the administration of the fund, but thisamount may not exceed 10% of the annual receipts to the fund.
Amended by Chapter 382, 2008 General Session