19-6-816.5. Fund balance maintenance.
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Effective 5/3/2023
19-6-816.5. Fund balance maintenance.
(1)As used in this section:
(a)"Qualified recycler" means a recycler who is qualified to receive a partial reimbursement under Section 19-6-809 during a fiscal year for which there are surplus funds.
(b)"Surplus funds" means, at the end of a fiscal year, money in the fund in excess of $2,000,000 after all partial reimbursements and payments to local health departments as provided in this part have been paid.
(2)At the end of a fiscal year, the Division of Finance shall use surplus funds to make payments to qualified recyclers equal to $10 for each ton of waste tires, material derived from waste tires, or chipped tires, for which the recycler received a partial reimbursement under Subsection 19-6-809(2) .
(3)If the surplus funds are insufficient to make the payments described in Subsection
(2), the Division of Finance shall prorate the amount per ton that is paid to each qualified recycler.
(4)The Division of Finance may not make a payment under this section that would cause the balance of the fund to be less than $2,000,000.
Amended by Chapter 388 , 2023 General Session