Utah Code 13-1-17. Commerce Electronic Payment Fee Restricted Account
Current as of: 2024 | Check for updates
|
Other versions
(1) As used in this section:
Terms Used In Utah Code 13-1-17
- 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
- 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.
(1)(a) “Account” means the Commerce Electronic Payment Fee Restricted Account created in this section.
(1)(b) “Costs of electronic payments” means the same as that term is defined in Section 13-1-2.
(1)(c) “Department” means the Department of Commerce.
(1)(d) “Electronic payment” means the same as that term is defined in Section 13-1-2.
(1)(e) “Electronic payment fee” means the same as that term is defined in Section 13-1-2.
(2) There is created in the General Fund a restricted account known as the “Commerce Electronic Payment Fee Restricted Account.”
(3) The account consists of money that the department collects as an electronic payment fee in accordance with Section 13-1-2.
(4) Upon appropriation, the department may use money in the account to cover the costs of electronic payments.
(5)
(5)(a) The account balance may not exceed $1,000,000 at the end of each fiscal year.
(5)(b) At the end of each fiscal year, the Division of Finance shall transfer into the General Fund any funds in the account that exceed an account balance of $1,000,000.