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S.B. 169 Enrolled

             1     

NAVAJO REVITALIZATION FUND

             2     
AMENDMENTS

             3     
2010 GENERAL SESSION

             4     
STATE OF UTAH

             5     
Chief Sponsor: David P. Hinkins

             6     
House Sponsor: Christine F. Watkins

             7     
             8      LONG TITLE
             9      General Description:
             10          This bill modifies provisions related to the Navajo Revitalization Fund to address
             11      administrative costs.
             12      Highlighted Provisions:
             13          This bill:
             14          .    increases the percentage of annual receipts to the revitalization fund that can be
             15      used for administration of the revitalization fund; and
             16          .    makes technical amendments.
             17      Monies Appropriated in this Bill:
             18          None
             19      Other Special Clauses:
             20          This bill takes effect on July 1, 2010.
             21      Utah Code Sections Affected:
             22      AMENDS:
             23          9-11-104, as last amended by Laws of Utah 2002, Chapter 256
             24     
             25      Be it enacted by the Legislature of the state of Utah:
             26          Section 1. Section 9-11-104 is amended to read:
             27           9-11-104. San Juan Navajo Revitalization Fund.
             28          (1) (a) There is created a restricted special revenue fund called the "Navajo
             29      Revitalization Fund."


             30          (b) The revitalization fund shall consist of:
             31          (i) [monies] money deposited to the revitalization fund under this chapter;
             32          (ii) [monies] money deposited to the revitalization fund under Section 59-5-119 ; and
             33          (iii) any loan repayment or interest on a loan issued under this chapter.
             34          (2) (a) The revitalization fund shall earn interest.
             35          (b) [All] The interest earned on revitalization fund [monies] money shall be deposited
             36      into the fund.
             37          (3) [Any] The unallocated balance in the revitalization fund at the end of a fiscal year
             38      [shall be] is nonlapsing.
             39          (4) [The] Beginning for fiscal year 2010-11, the division may use revitalization fund
             40      [monies] money for the administration of the revitalization fund, but this amount may not
             41      exceed [2%] 4% of the annual receipts to the revitalization fund.
             42          Section 2. Effective date.
             43          This bill takes effect on July 1, 2010.


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