59-5-215. Disposition of taxes collected -- Credit to General Fund -- Transfer to State Reinvestment Restricted Account.
115 words·~1 min read·
/ut/title-59/chapter-5/59-5-215A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 1/1/2026
59-5-215. Disposition of taxes collected -- Credit to General Fund -- Transfer to State Reinvestment Restricted Account.
(1)Except as provided in Section 51-9-305 , 51-9-306 , or 51-9-1102 , or Subsection 59-5-202(5) , a tax imposed and collected under Section 59-5-202 shall be paid to the commission, promptly remitted to the state treasurer, and credited to the General Fund.
(2)For a fiscal year beginning on or after July 1, 2026, the Division of Finance shall transfer from the General Fund to the State Reinvestment Restricted Account created in Section 51-9-1102 the amount credited to the General Fund under Subsection
(1)that exceeds $11,526,000.
Amended by Chapter 493 , 2026 General Session