This section creates a fund in the state treasury, lets the secretary receive certain funds, requires remittance and deposit procedures, limits spending to specific well-plugging purposes, and sets a monthly transfer rule for interest earnings.
55-1,121. Salt solution mining well plugging fund. (a) There is hereby created in the state treasury the salt solution mining well plugging fund. Such fund shall be administered by the secretary in accordance with the provisions of this section and K.S.A. 55-1,120, and amendments thereto. (b) All moneys received by the secretary as grants, gifts, bequests or state or federal appropriations for the purposes of K.S.A. 55-1,120, and amendments thereto, shall be remitted by the secretary to the state treasurer in accordance with the provisions of K.S.A. 75-4215, and amendments thereto. Upon receipt of each such remittence the state treasurer shall deposit the entire amount in the state treasury to the credit of the salt solution mining well plugging fund. The secretary is authorized to receive from the federal government or any of its agencies or from any private or governmental source any funds made available for the purposes of K.S.A. 55-1,120, and amendments thereto. (c) Moneys in the salt solution mining well plugging fund shall be expended only for the purpose of investigating and plugging wells, identifying responsible parties and otherwise administering the provisions of K.S.A. 55-1,120, and amendments thereto. (d) On or before the 10th of each month, the director of accounts and reports shall transfer from the state general fund to the salt solution mining well plugging fund interest earnings based on: (1) The average daily balance of moneys in the salt solution mining well plugging fund for the preceding month; and (2) the net earnings rate for the pooled money investment portfolio for the preceding month. (e) All expenditures from the salt solution mining well plugging fund shall be made in accordance with appropriation acts upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the secretary or a person designated by the secretary for the purposes set forth in this section. History: L. 2001, ch. 191, § 13; July 1.