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Utah Code Title 53F. Public Education System--Funding § 53F-9-302. Minimum Basic Growth Account

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) As used in this section, “account” means the Minimum Basic Growth Account created in this section.

(2) There is created within the Income Tax Fund a restricted account known as the “Minimum Basic Growth Account.”

(3) The account shall be funded by amounts deposited into the account in accordance with Section 53F-2-301.

(4) The account shall earn interest.

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

(6) Upon appropriation by the Legislature:

(a) 75% of the money from the account shall be used to fund the state's contribution to the voted local levy guarantee described in Section 53F-2-601;

(b) 20% of the money from the account shall be used to fund the Capital Outlay Foundation Program as provided in Section 53F-3-202; and

(c) 5% of the money from the account shall be used to fund the Capital Outlay Enrollment Growth Program as provided in Section 53F-3-203.

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Cite this article: FindLaw.com - Utah Code Title 53F. Public Education System--Funding § 53F-9-302. Minimum Basic Growth Account - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-53f-public-education-system-funding/ut-code-sect-53f-9-302/

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