Compendium of Budget Information for the 2011 General Session
| Natural Resources, Agriculture, & Environmental Quality Appropriations Subcommittee | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Subcommittee Table of Contents | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Group: Natural Resources, Agriculture, & Environment Line Item: Water Resources Conservation and Development Fund Function The Conservation and Development (C & D) Fund generally helps sponsors finance multipurpose dams and large water systems. Funding is secured by purchase agreements between the Board and sponsors or by board purchase of general obligation or revenue bonds. Interest rates vary from 0% to 7% depending on ability to pay. Statutory Authority Established in Sales Tax Distribution Chart). UCA 59-12-103(4) earmarks $17,500,000 from a 1/16 percent sales tax for water projects. The Conservation and Development Fund receives 41 percent, or $7,175,000. UCA 59-12-103(5) earmarks the remainder of the 1/16 percent sales tax above $17,500,000 for water projects. Some of the money from this fund is transferred out to other programs in Water Resources, including $3,800,000 to the Construction Fund for dam safety grants. Until 2010 a base appropriation of $1,043,200 was made from the General Fund.
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