§ 35A-8-1201. Creation and administration.

Latest version.

(1)	There is created an enterprise fund known as the "State Small Business Credit Initiative Program Fund" administered by the director of the division or the director's designee.

(2)	The division is the administrator of the fund.

(3)

Revenues deposited into the fund shall consist of:

(a)	grants, pay backs, bonuses, entitlements, and other money received from the federal government to implement the State Small Business Credit Initiative; and

(b)	transfers, grants, gifts, bequests, and other money made available from any source to implement this part.

(4)

(a)	The state treasurer shall invest the money in the fund according to the procedures and requirements of Title 51, Chapter 7, State Money Management Act.

(b)	Interest and other earnings derived from the fund money shall be deposited in the fund.

(5)	The division may use fund money for administration of the fund, but not to exceed 4% of the annual receipts to the fund.

Renumbered and Amended by Chapter 212, 2012 General Session

                    
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