Utah Code Title 61. Securities Division--Real Estate Division § 61-2-204. Utah Housing Opportunity Restricted Account

(a) contributions deposited into the account in accordance with Section 41-1a-422;

(b) private contributions; and

(c) donations or grants from public or private entities.

(4)(a) The state treasurer shall invest money in the account according to Title 51, Chapter 7, State Money Management Act.

(b) The Division of Finance shall deposit interest or other earnings derived from investment of account money into the General Fund.

(a) are tax exempt under Section 501(c)(3), Internal Revenue Code;  1 and

(b) have as a primary part of their mission to provide support to organizations that create affordable housing for those in severe need.

(a) proposed by an organization described in Subsection (6); and

(b) designed to provide support to organizations that create affordable housing for those in severe need.

(8)(a) An organization described in Subsection (6) may apply to the division to receive a distribution in accordance with Subsection (6).

(b) An organization that receives a distribution from the division in accordance with Subsection (6) shall expend the distribution only to provide support to organizations that create affordable housing for those in severe need.