35A-8-1704. Navajo Revitalization Fund.
(1) |
Terms Used In Utah Code 35A-8-1704- Division: means the Housing and Community Development Division. See Utah Code 35A-8-1702
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Revitalization fund: means the Navajo Revitalization Fund. See Utah Code 35A-8-1702
(a) |
There is created an expendable special revenue fund called the “Navajo Revitalization Fund.” |
(b) |
The revitalization fund shall consist of:
(i) |
money deposited to the revitalization fund under this part; |
(ii) |
money deposited to the revitalization fund under Section 59-5-119; and |
(iii) |
any loan repayment or interest on a loan issued under this part. |
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(2) |
(a) |
The revitalization fund shall earn interest. |
(b) |
The interest earned on revitalization fund money shall be deposited into the fund. |
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(3) |
Beginning for fiscal year 2010-11, the division may use revitalization fund money for the administration of the revitalization fund, but this amount may not exceed 4% of the annual receipts to the revitalization fund. |
Amended by Chapter 136, 2019 General Session