H.B. 429

1

USE OF SURPLUS EDUCATION FUND AND
2 UNIFORM SCHOOL FUND MONIES
3 2007 GENERAL SESSION
4 STATE OF UTAH
5 Chief Sponsor: Steven R. Mascaro
6 Senate Sponsor: ____________
7
8 LONG TITLE
9 General Description:
10 This bill requires the transfer of certain surpluses to the Capital Outlay Foundation
11 Program.
12 Highlighted Provisions:
13 This bill:
14 . directs the Division of Finance to transfer 50% of the sum of any surpluses in the
15 Education Fund and the Uniform School Fund into the Capital Outlay Foundation
16 Program.
17 Monies Appropriated in this Bill:
18 None
19 Other Special Clauses:
20 None
21 Utah Code Sections Affected:
22 ENACTS:
23 63-38-2.7, Utah Code Annotated 1953
24
25 Be it enacted by the Legislature of the state of Utah:
26 Section 1. Section 63-38-2.7 is enacted to read:
27 63-38-2.7. Appropriation of a portion of the Education Fund and Uniform School

28 Fund Surplus to the Capital Outlay Foundation Program.
29 At the end of each fiscal year, the Division of Finance shall transfer 50% of the sum of
30 any surpluses in the Education Fund and the Uniform School Fund into the Capital Outlay
31 Foundation Program created in Section 53A-21-102 .




Legislative Review Note
as of 1-29-07 4:39 PM

Office of Legislative Research and General Counsel