Utah Code 53D-2-204. Land Trusts Protection and Advocacy Account — Funding of advocacy office operations

53D-2-204. Land Trusts Protection and Advocacy Account — Funding of advocacy office operations.

(1)

As used in this section:

Terms Used In Utah Code 53D-2-204

Advocacy office: means the Land Trusts Protection and Advocacy Office, created in Section 53D-2-201. See Utah Code 53D-2-102
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.
Land: includes :Utah Code 68-3-12.5
trust: includes :

(a)	school and institutional trust lands, as defined in Section 53C-1-103, and related assets; and

(b)

funds and investments of school and institutional trust land revenue, as described in Title 53D, Chapter 1, School and Institutional Trust Fund Management Act. See Utah Code 53D-2-102

Trust beneficiaries: means those for whose benefit the school and institutional trust is managed and preserved, as required by:

(a)	the Utah Enabling Act;

(b)	the Utah Constitution; and

(c)	state law. See Utah Code 53D-2-102
(a)	“Account” means the Land Trusts Protection and Advocacy Account created in this section.

(b)	“School and Institutional Trust Fund Office director” or “SITFO director” means the director of the School and Institutional Trust Fund Office, appointed under Section 53D-1-401.

(c)	“Trust fund” means the same as that term is defined in Section 53D-1-102.

(d)	“Trust fund earnings” means the same as that term is defined in Section 53D-1-203.

(2)	There is created an enterprise fund known as the Land Trusts Protection and Advocacy Account.

(3)	The account is funded by money deposited into the account as provided in Subsection (4).

(4)

(a)

Except as provided in Subsection (4)(c), the SITFO director shall deposit into the account a total amount of money, taken proportionately from trust fund earnings according to the value of the various funds established for the trust beneficiaries, that is equal to the annual appropriation that the Legislature makes to the advocacy office.

(b)	The advocacy office may use money in the account to pay for the advocacy office’s operating costs.

(c)

If the amount of money deposited into the account under Subsection (4)(a) in any fiscal year exceeds the amount required by the advocacy office during that fiscal year to fund advocacy office operations, the SITFO director shall, in the following fiscal year, reduce the amount deposited into the account under Subsection (4)(a) by the amount of the unspent appropriation.

Amended by Chapter 191, 2019 General Session

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