Sec. 27. (a) Money received under this chapter shall be paid by the
department into a fund to be kept by the treasurer of state and known as the
oil and gas fund.
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Terms Used In Indiana Code 6-8-1-27
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- department: refers to the department of state revenue. See Indiana Code 6-8-1-2
- oil: means petroleum that maintains a liquid state at atmospheric conditions. See Indiana Code 6-8-1-5
- petroleum: means all hydrocarbons produced at a well in a liquid or gaseous state. See Indiana Code 6-8-1-5
(1) To the expenses of administering this chapter.
(2) To the division of reclamation of the department of natural resources for the purpose of administering IC 14-37.
(3) To research pertaining to exploration for, development of, and wise use of petroleum resources in Indiana.
Formerly: Acts 1947, c.278, s.27. As amended by Acts 1982, P.L.63, SEC.1; P.L.109-1988, SEC.17; P.L.1-1995, SEC.53; P.L.127-2022, SEC.1.
