53A-16-101 - Uniform School Fund -- Contents -- Interest and Dividends Account. - Utah Statutes

53A-16-101. Uniform School Fund -- Contents -- Interest and Dividends Account.
(1) The Uniform School Fund, a special revenue fund within the Education Fund,established by Utah Constitution, Article X, Section 5, consists of:
(a) interest and dividends derived from the investment of money in the permanent StateSchool Fund established by Utah Constitution, Article X, Section 5;
(b) money transferred to the fund pursuant to Title 67, Chapter 4a, Unclaimed PropertyAct; and
(c) all other constitutional or legislative allocations to the fund, including revenuesreceived by donation.
(2) (a) There is created within the Uniform School Fund a restricted account known asthe Interest and Dividends Account.
(b) The Interest and Dividends Account consists of:
(i) interest and dividends derived from the investment of money in the permanent StateSchool Fund referred to in Subsection (1)(a); and
(ii) interest on account money.
(3) (a) Upon appropriation by the Legislature, money from the Interest and DividendsAccount shall be used for the School LAND Trust Program as provided in Section53A-16-101.5.
(b) The Legislature may appropriate any remaining balance for the support of the publiceducation system.

Amended by Chapter 278, 2010 General Session