§ 24-36-405 — Tax credit sale proceeds cash fund - creation

(1) The tax credit
sale proceeds cash fund is created in the state treasury. The fund consists of
money generated by sale proceeds credited to the fund pursuant to section 24-36-406 and any other money that the general assembly may appropriate or transfer to
the fund.

(2) The state treasurer shall credit all interest and income derived from the
deposit and investment of money in the tax credit sale proceeds cash fund to the
fund.

(3) The state treasurer shall transfer any unexpended and unencumbered
money remaining in the tax credit sale proceeds cash fund at the end of a fiscal
year to the general fund.

(4) (a) Subject to annual appropriation by the general assembly, the
department may expend money from the fund for any reasonable and necessary
administrative, monitoring, and closing costs associated with implementing and
administering parts 4 and 5 of this article 36.

(b) Subject to annual appropriation by the general assembly, the department
of revenue may expend money from the fund for direct and indirect costs
associated with implementing and administering parts 4 and 5 of this article 36.

Legislative History

Source: L. 2025, 1st Ex. Sess.: Entire part added, (HB 25B-1004), ch. 8, p. 31, � 1, effective August 28.