1     
COMMERCE SERVICE ACCOUNT AMENDMENTS

2     
2017 GENERAL SESSION

3     
STATE OF UTAH

4     
Chief Sponsor: Bradley G. Last

5     
Senate Sponsor: Kevin T. Van Tassell

6     

7     LONG TITLE
8     General Description:
9          This bill modifies provisions relating to the Commerce Service Account.
10     Highlighted Provisions:
11          This bill:
12          ▸     amends the amount of undesignated funds that the Division of Finance shall transfer
13     from the Commerce Service Account to the General Fund at the end of each fiscal
14     year; and
15          ▸     makes technical changes.
16     Money Appropriated in this Bill:
17          None
18     Other Special Clauses:
19          None
20     Utah Code Sections Affected:
21     AMENDS:
22          13-1-2, as last amended by Laws of Utah 2010, Chapter 278
23     

24     Be it enacted by the Legislature of the state of Utah:
25          Section 1. Section 13-1-2 is amended to read:
26          13-1-2. Creation and functions of department -- Divisions created -- Fees --
27     Commerce Service Account.
28          (1) (a) There is created the Department of Commerce.
29          (b) The department shall execute and administer state laws regulating business
30     activities and occupations affecting the public interest.
31          (2) Within the department the following divisions are created:
32          (a) the Division of Occupational and Professional Licensing;
33          (b) the Division of Real Estate;
34          (c) the Division of Securities;
35          (d) the Division of Public Utilities;
36          (e) the Division of Consumer Protection; and
37          (f) the Division of Corporations and Commercial Code.
38          (3) (a) Unless otherwise provided by statute, the department may adopt a schedule of
39     fees assessed for services provided by the department by following the procedures and
40     requirements of Section 63J-1-504.
41          (b) The department shall submit each fee established in this manner to the Legislature
42     for its approval as part of the department's annual appropriations request.
43          (c) (i) There is created a restricted account within the General Fund known as the
44     "Commerce Service Account."
45          (ii) The restricted account created in Subsection (3)(c)(i) consists of fees collected by
46     each division and by the department.
47          (iii) The undesignated account balance may not exceed $1,000,000 at the end of each
48     fiscal year.
49          [(iii)] (iv) At the end of each fiscal year, the director of the Division of Finance shall
50     transfer into the General Fund any [fee collections that are greater than the legislative
51     appropriations from the Commerce Service Account for that year] undesignated funds in the
52     account that exceed the amount necessary to maintain the undesignated account balance at
53     $1,000,000.
54          (d) The department may not charge or collect a fee or expend money from the
55     restricted account without approval by the Legislature.