Utah Code 63A-3-505. State Debt Collection Fund

63A-3-505. State Debt Collection Fund.

(1)	There is created an expendable special revenue fund entitled the “State Debt Collection Fund.”

Civil judgment of restitution: means the same as that term is defined in Section 77-32b-102. See Utah Code 63A-3-501
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.
Office: means the Office of State Debt Collection created in Section 63A-3-502. See Utah Code 63A-3-501
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 fund consists of:

(a)	all amounts appropriated to the fund under this chapter;

(b)	fees and interest established by the office under Subsection 63A-3-502(4)(g); and

(c)	except as otherwise provided by law, all postjudgment interest collected by the office or the state, except postjudgment interest on a civil judgment of restitution.

(3)

Money in this fund shall be used to pay for:

(a)	the costs of the office in the performance of the office’s duties under this chapter;

(b)	a civil judgment of restitution for which debt is owed;

(c)	interest accrued that is associated with the debt;

(d)	principal on the debt to the state agencies or other entities that placed the receivable for collection; and

(e)	other legal obligations including those ordered by a court.

(4)

(a)	The fund may collect interest.

(b)	All interest earned from the fund shall be deposited in the General Fund.

(5)	The office shall ensure that money remaining in the fund at the end of the fiscal year that is not committed under the priorities established under Subsection (3) is deposited into the General Fund.

Amended by Chapter 260, 2021 General Session