6-4-30. Government results and opportunity expendable trust.
287 words·~1 min read·
/nm/chapter-6-public-finances/article-4-state-funds-and-capital-programs/6-4-30·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The "government results and opportunity expendable trust" is created as a nonreverting fund in the state treasury. The trust shall consist of distributions, appropriations, gifts, grants and donations. Income from investment of the trust shall be credited to the trust. Money in the trust shall be expended only as provided in this section.
B. Beginning July 1, 2025 and July 1 of each year thereafter, a distribution shall be made from the government results and opportunity expendable trust to the government results and opportunity program fund in an amount equal to twenty-five percent of the balance of the trust or one hundred million dollars ($100,000,000), whichever is greater; provided that if the balance of the trust is less than one hundred million dollars ($100,000,000), the balance of the trust shall be distributed. For fiscal year 2025, any unexpended or unencumbered balance remaining after the distribution is made in that fiscal year shall be included in the calculation of state reserves.
C. In addition to the distribution pursuant to Subsection B of this section, money in the government results and opportunity expendable trust may be expended in the event that general fund balances, including all authorized revenues and transfers to the general fund and balances in the general fund operating reserve, will not meet the level of appropriations authorized from the general fund for a fiscal year. In that event, the legislature may appropriate from the government results and opportunity expendable trust to the general fund only in the amount necessary to meet general fund appropriations for that fiscal year and only if the legislature has authorized a transfer from the general fund operating reserve that exhausts that fund balance.
History: Laws 2024, ch. 18, § 1.