67-4-22. State Treasurer Investment Management Account.
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Effective 7/1/2025
67-4-22. State Treasurer Investment Management Account.
(1)As used in this section, "account" means the State Treasurer Investment Management Account created in this section.
(2)There is created within the General Fund a restricted account known as the State Treasurer Investment Management Account.
(3)Money in the account is solely to pay for the state treasurer's costs of managing the state's and local governments' investments.
(a)Subject to Subsection (4)(b), the account shall consist of a portion of investment earnings on:
(i)the funds listed in Subsection 51-7-2(1) and managed by the state treasurer; and
(ii)the Public Treasurers' Investment Fund created in Section 51-7-3 .
(b)The total annual amount deposited into the account for a given fiscal year may not exceed the amount appropriated from the account for that fiscal year.
(5)The state treasurer shall deposit investment earnings into the account quarterly, based on the annually appropriated amount described in Subsection (4)(b) .
(6)Appropriations from the account reduce General Fund revenue and Income Tax Fund revenue proportional to those funds' share of total investments.
(7)Beginning in 2026, after July 1 and before December 1 each calendar year, the state treasurer shall report to the Executive Appropriations Committee the portion of the deposits into the account during the previous fiscal year that was General Fund revenue and the portion that was Income Tax Fund revenue.
(8)The Division of Finance shall lapse any balances in the account at the close of a fiscal year to the General Fund and Income Tax Fund proportional to those funds' share of total deposits.
Enacted by Chapter 167 , 2025 General Session
Technically renumbered to avoid duplication of newly enacted code also in HB0306, Chapter null, also in SB0323, Chapter 361.also in HB0010, Chapter 167, also in HB0306, Chapter null.