13-1-17. Commerce Electronic Payment Fee Restricted Account.
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Effective 5/3/2023
13-1-17. Commerce Electronic Payment Fee Restricted Account.
(1)As used in this section:
(a)"Account" means the Commerce Electronic Payment Fee Restricted Account created in this section.
(b)"Costs of electronic payments" means the same as that term is defined in Section 13-1-2 .
(c)"Department" means the Department of Commerce.
(d)"Electronic payment" means the same as that term is defined in Section 13-1-2 .
(e)"Electronic payment fee" means the same as that term is defined in Section 13-1-2 .
(2)There is created in the General Fund a restricted account known as the "Commerce Electronic Payment Fee Restricted Account."
(3)The account consists of money that the department collects as an electronic payment fee in accordance with Section 13-1-2 .
(4)Upon appropriation, the department may use money in the account to cover the costs of electronic payments.
(a)The account balance may not exceed $1,000,000 at the end of each fiscal year.
(b)At the end of each fiscal year, the Division of Finance shall transfer into the General Fund any funds in the account that exceed an account balance of $1,000,000.
Enacted by Chapter 26 , 2023 General Session
Amended by Chapter 534 , 2023 General Session, (Coordination Clause)