Section 51-9-307 - [Effective 1/1/2025] 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.Amended by Chapter 25, 2024 General Session ,§ 2, eff. 1/1/2025.Amended by Chapter 537, 2023 General Session ,§ 2, eff. 5/3/2023.Added by Chapter 401, 2021 General Session ,§ 8, eff. 5/5/2021.This section is set out more than once due to postponed, multiple, or conflicting amendments.