63A-3-403. Money in infrastructure funds.
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Effective 5/4/2022
63A-3-403. Money in infrastructure funds.
(1)Money in each of the infrastructure funds shall be kept separate and accounted for separately from money in the other infrastructure funds.
(2)Each infrastructure fund includes money:
(a)appropriated to that fund by the Legislature;
(b)transferred to the fund from the State Infrastructure Bank Fund created in Section 72-2-202 , if applicable;
(c)from federal, state, or other public grants or contributions;
(d)that an independent political subdivision transfers to the fund from other money available to the independent political subdivision;
(e)contributed or granted to the infrastructure fund from a private source; and
(f)collected from repayments of loans of infrastructure fund money.
(3)In addition to money identified in Subsection
(2), the military development fund includes money repaid under the terms of a loan agreement, as described in Section 63A-3-404 , executed on or after October 1, 2021, from a loan under Subsection 63B-27-101(3)(a) (i).
(a)Each infrastructure fund shall earn interest.
(b)All interest earned on infrastructure fund money shall be deposited into the respective infrastructure fund and included in the money of the infrastructure fund available to be loaned.
(5)The state treasurer shall invest infrastructure fund money as provided in Title 51, Chapter 7, State Money Management Act .
Amended by Chapter 463 , 2022 General Session