| (1) |
There is created in the General Fund a restricted account known as the “Latino Community Support Restricted Account.” |
Terms Used In Utah Code 13-1-16
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
| (2) |
The account shall be funded by:
| (a) |
contributions deposited into the account in accordance with Section 41-1a-422; |
| (b) |
private contributions; and |
| (c) |
donations or grants from public or private entities. |
|
| (3) |
| (b) |
The Division of Finance shall deposit interest or other earnings derived from investment of account money into the General Fund. |
|
| (4) |
Subject to appropriation, the department shall distribute the money in the account to one or more charitable organizations that:
| (a) |
are tax exempt under Section 501(c)(3), Internal Revenue Code; and |
| (b) |
have as a primary part of the organization’s mission to strengthen the state’s Latino community by:
| (i) |
creating strong leaders through education and mentoring; |
| (ii) |
providing scholarships and educational financial support; and |
| (iii) |
recognizing academic and vocational achievement, and school and community leadership. |
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|
| (5) |
The department may also expend funds in the account to pay the costs of issuing or reordering Latino Community support special group license plate decals. |
Enacted by Chapter 405, 2020 General Session
