51-9-202. Permanent state trust fund.

495 words·~2 min read·/ut/title-51/chapter-9/51-9-202

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 7/1/2026

(1)Until July 1, 2003, 50% of all funds of every kind that are received by the state that are related to the settlement agreement that the state entered into with leading tobacco manufacturers on November 23, 1998, shall be deposited into the permanent state trust fund created by and operated under Utah Constitution, Article XXII, Section 4.

(2)On and after July 1, 2003, and until July 1, 2004, 20% of the funds of any kind received by the state that are related to the settlement agreement that the state entered into with leading tobacco manufacturers shall be deposited into the permanent state trust fund created by and operated under Utah Constitution, Article XXII, Section 4.

(3)On and after July 1, 2004, and until July 1, 2005, 30% of all funds of any kind received by the state that are related to the settlement agreement that the state entered into with leading tobacco manufacturers shall be deposited into the General Fund Budget Reserve Account created in Section 63J-1-312 .

(4)On and after July 1, 2005, and until July 1, 2007, 25% of all funds of any kind received by the state that are related to the settlement agreement that the state entered into with leading tobacco manufacturers shall be deposited into the permanent state trust fund created by and operated under Utah Constitution, Article XXII, Section 4.

(5)On and after July 1, 2007, 40% of all funds of every kind that are received by the state that are related to the settlement agreement that the state entered into with leading tobacco manufacturers on November 23, 1998, shall be deposited into the General Fund and the remaining funds deposited as directed.

(6)Funds in the permanent state trust fund shall be deposited or invested in accordance with Chapter 7b, Investment of Permanent State Trust Fund Money .

(a)In accordance with Utah Constitution, Article XXII, Section 4, the interest and dividends earned annually from the permanent state trust fund shall be deposited in the General Fund. There shall be transferred on an ongoing basis from the General Fund to the permanent state trust fund created under Utah Constitution, Article XXII, Section 4, an amount equal to 50% of the interest and dividends earned annually from the permanent state trust fund. The amount transferred into the fund under this Subsection (7)(a) shall be treated as principal.

(b)Any annual interest or dividends earned from the permanent state trust fund that remain in the General Fund after Subsection (7)(a) may be appropriated by the Legislature.

(c)Any realized or unrealized gains or losses on investments in the permanent state trust fund shall remain in the permanent state trust fund.

(8)This section does not apply to funds deposited under Part 3, Deposit or Credit of Certain Severance Taxes and Interest and Dividends, into the permanent state trust fund.

Amended by Chapter 493 , 2026 General Session