7 LONG TITLE
8 General Description:
9 This bill enacts provisions relating to contribution dependant accounts.
10 Highlighted Provisions:
11 This bill:
12 ▸ defines terms;
13 ▸ requires that the Division of Finance prepare an annual report that recommends that
14 the Legislature close each contribution dependant account that does not generate a
15 certain amount of revenue.
16 Money Appropriated in this Bill:
18 Other Special Clauses:
20 Utah Code Sections Affected:
22 63A-3-8, Utah Code Annotated 1953
24 Be it enacted by the Legislature of the state of Utah:
25 Section 1. Section 63A-3-8 is enacted to read:
26 63A-3-8. Contribution dependant accounts -- Annual report.
27 (1) As used in this section:
28 (a) (i) "Contribution" means a voluntary donation of money or other valuable property
29 to a state fund or account.
30 (ii) "Contribution" does not include:
31 (A) a fee or tax levied by a state entity; or
32 (B) a voluntary donation made under Title 41, Chapter 1a, Motor Vehicle Act or Title
33 59, Chapter 10, Part 13, Individual Income Tax Contribution Act.
34 (b) (i) "Contribution dependent account" means a state fund or account that:
35 (A) receives at least 50% of the fund's or account's revenue from contributions; and
36 (B) is not intended to be used to directly provide services exclusively to a person who
37 makes a contribution to the fund or account.
38 (ii) "Contribution dependant account" does not include a trust and agency fund as
39 defined in Section 51-5-4.
40 (2) The Division of Finance shall annually prepare a report that:
41 (a) lists each contribution dependant account that did not receive at least $30,000 in
42 contributions during at least one of the three fiscal years before the day on which the report is
43 compiled; and
44 (b) recommends that the Legislature close each contribution dependant account listed
45 in the report.
46 (3) The Division of Finance shall present the report described in Subsection (2) to the
47 Executive Appropriations Committee by November 30 of each year.