§ 53A-16-101. Uniform School Fund -- Contents -- Interest and Dividends Account -- Invest More for Education 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 State School Fund established by Utah Constitution, Article X, Section 5;

(b) money transferred to the fund pursuant to Title 67, Chapter 4a, Unclaimed Property Act; and

(c) all other constitutional or legislative allocations to the fund, including revenues received by donation.

(2)

(a) There is created within the Uniform School Fund a restricted account known as the 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 State School 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 Dividends Account shall be used for:

(i) the administration of the School LAND Trust Program as provided in Section 53A-16-101.5; and

(ii) the performance of duties described in Section 53A-16-101.6.

(b) The Legislature may appropriate any remaining balance for the support of the public education system.

(4)

(a) There is created within the Uniform School Fund a restricted account known as the Invest More for Education Account.

(b) The account shall be funded by contributions deposited into the restricted account in accordance with Section 59-10-1318.

(c) The account shall earn interest.

(d) Interest earned on the account shall be deposited into the account.

(e) The Legislature may appropriate money from the account for the support of the public education system.

Amended by Chapter 235, 2013 General Session