45-1331. Allocation of federal payments made
in lieu of taxes
A. When payments are made by the United States, its agencies or instrumentalities
to this state in lieu of taxes from the proceeds of any hydroelectric power development
on the Colorado river, within the state or on the boundary thereof, pursuant to an act of
Congress accepted by the state or otherwise, such payments shall be distributed sixty-six
and two-thirds per cent to the state and thirty-three and one-third per cent to the
county in which the federal property to which the payment relates is located. If the
property to which the lieu payment relates is located in more than one county, the
allocation shall be made on the basis of the value of the federal property in each such
county, to be determined by the department of revenue.
B. Upon receipt of such payments the state treasurer shall distribute two thirds to
the state general fund and the portion allocated to each county shall be placed in a
special fund of such county to be used for recreational facilities, access roads and
public works. Such special fund shall not be used to reduce the tax rate of such county.
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