81-1-112. (Temporary) Livestock loss mitigation restricted account.
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81-1-112 . (Temporary) Livestock loss mitigation restricted account.
(1)There is an account in the state special revenue fund established by 17-2-102 to be known as the livestock loss mitigation restricted special revenue account. The account is administered by the department.
(2)Each fiscal year, the amount provided in 15-1-122
(3)is transferred to the account from the state general fund and is restricted to the purpose of making payments to livestock producers for confirmed and probable livestock losses pursuant to 2-15-3112 (2). Money in the account may not be expended for administrative expenses.
(3)The livestock loss mitigation restricted special revenue account is statutorily appropriated, as provided in 17-7-502 , to the department for the purpose of making payments to livestock producers as provided in subsection
(2)of this section.
(4)On June 30 of each year, any unencumbered funds in the account in excess of $300,000 must be transferred to the livestock loss reduction restricted special revenue account established in 81-1-113 . (Terminates June 30, 2029--secs. 1, 2, Ch. 20, L. 2023.)