Utah Code 35A-8-1704. Navajo Revitalization Fund

35A-8-1704. Navajo Revitalization Fund.

(1)

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.

(2)

(a)	The revitalization fund shall earn interest.

(b)	The interest earned on revitalization fund money shall be deposited into the fund.

(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