1. (a) All proceeds derived:

   1. (1) from or by virtue or by reason of a permit or lease executed or issued under this chapter; or

   2. (2) from or by reason of any operations under this chapter;

      shall, after deducting all costs incurred by the department, be paid to the treasurer of state for the use of the division of the department having the custody, control, possession, or authority of or over the real property involved.

2. (b) Except as provided in subsection (c), the proceeds shall be deposited in the proper fund of the appropriate division of the department.
3. (c) Except as provided in subsection (d), the proceeds from royalties or other compensation paid for minerals taken from beneath the navigable waters of the state shall be deposited in the state general fund.

4. (d) The proceeds from royalties or other compensation paid for minerals taken from beneath the navigable waters of the Wabash River (as defined in IC 14-13-6-4 ) shall be deposited in the Wabash River heritage corridor fund established by IC 14-13-6-23 .

   [Pre-1995 Recodification Citation: 14-4-3-9.]

As added by P.L.1-1995, SEC.31. Amended by P.L.118-2009, SEC.4.