2007 Minnesota Statutes

93.223 MINERAL LEASE SUSPENSE ACCOUNTS.
    Subdivision 1.[Repealed, 1Sp2003 c 9 art 5 s 37]
    Subd. 2. University fund mineral lease suspense account. The university fund mineral
lease suspense account is created as an account in the state treasury for mineral lease money
deposited according to section 93.22, subdivision 2, clause (2). Interest earned on money in the
account accrues to the account. After money is annually deposited in the account under section
93.22, subdivision 2, clause (2), the commissioner of finance shall certify 20 percent of the
payments made during the preceding fiscal year as costs for the administration and management
of mineral leases on permanent university fund lands. The commissioner of finance shall transfer
the certified amount from the university fund mineral lease account to the general fund. The
balance remaining in the account is annually transferred to the permanent university fund.
History: 1Sp2001 c 6 art 1 s 2