63N-3-1802. State Housing Infrastructure Partnership Fund.

207 words·~1 min read·/ut/title-63n/chapter-3/63n-3-1802

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

Effective 5/6/2026

(1)There is created a revolving loan fund known as the "State Housing Infrastructure Partnership Fund."

(2)The fund consists of money generated from the following revenue sources:

(a)appropriations made to the fund by the Legislature;

(b)amounts received for the repayment of infrastructure loans made by the board under this part;

(c)grants, gifts, loans, or other funding from:

(i)the federal government; or

(ii)other public or private sources; and

(d)interest or other earnings deposited under Subsection

(3).

(3)The state treasurer shall:

(a)invest the money in the fund by following the procedures and requirements of Title 51, Chapter 7, State Money Management Act; and

(b)deposit all interest or other earnings derived from those investments into the fund.

(4)Money in the fund may only be used for:

(a)infrastructure loans made by the board under this part; and

(b)the administrative costs incurred by the office, in an amount that does not exceed 1% of the revenues of the fund, including any appropriation to the fund, from:

(i)implementing this part; and

(ii)facilitating the implementation of Section 63A-2-412 and Subsection 72-5-117(2)(f) .

Enacted by Chapter 371 , 2026 General Session