63A-3-109. Contribution dependent accounts — Annual report.
| (1) |
As used in this section:
Terms Used In Utah Code 63A-3-109- Dependent: A person dependent for support upon another.
- Fiduciary: A trustee, executor, or administrator.
- Person: means :Utah Code 68-3-12.5
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- 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
| (a) |
| (i) |
“Contribution” means a voluntary donation of money or other valuable property to a state fund or account. |
| (ii) |
“Contribution” does not include:
| (A) |
a fee or tax levied by a state entity; or |
|
|
| (b) |
| (i) |
“Contribution dependent account” means a state fund or account that:
| (A) |
receives at least 50% of the fund’s or account’s revenue from contributions; and |
| (B) |
is not intended to be used to directly provide services exclusively to a person who makes a contribution to the fund or account. |
|
| (ii) |
“Contribution dependent account” does not include a fiduciary fund as defined in Section 51-5-4. |
|
|
| (2) |
The Division of Finance shall annually prepare a report that:
| (a) |
lists each contribution dependent account that did not receive at least $30,000 in contributions during at least one of the three fiscal years before the day on which the report is compiled; and |
| (b) |
recommends that the Legislature close each contribution dependent account listed in the report. |
|
| (3) |
The Division of Finance shall present the report described in Subsection (2) to the Executive Appropriations Committee by November 30 of each year. |
Amended by Chapter 451, 2022 General Session
