§ 4-18-106. Agriculture Resource Development Fund -- Contents -- Use of fund money -- Authority board. (Effective 5/13/2014)

(1) There is created a revolving loan fund known as the Agriculture Resource Development Fund.

(2) The Agriculture Resource Development Fund shall consist of:

(a) money appropriated to it by the Legislature;

(b) sales and use tax receipts transferred to the fund in accordance with Section 59-12-103;

(c) money received for the repayment of loans made from the fund;

(d) money made available to the state for agriculture resource development from any source; and

(e) interest earned on the fund.

(3) The commission shall make loans from the Agriculture Resource Development Fund as provided by Subsections 4-18-105(1)(e)(i) through (v).

(4) The commission may appoint an advisory board that shall:

(a) oversee the award process for loans, as described in this section;

(b) make recommendations to the commission regarding loans; and

(c) recommend the policies and procedures for the Agriculture Resource Development Fund, consistent with statute.

Amended by Chapter 383, 2014 General Session