§ 53-1-612 — Use Of Funding Obtained By Refinancing

53-1-612 . Use of funding obtained by refinancing. (1) It is the intent of the legislature that general fund savings generated through the refinancing work described in 53-1-610 be applied in the following priority:
(a) the savings must be applied to fund the refinancing activities;
(b) the department of public health and human services may retain funds to maintain existing services; and
(c) the department of public health and human services may use funds to reinstate services that have been cut during the 2003 biennium.
(2) Additional funds generated through refinancing savings, beyond those used pursuant to subsection (1), revert to the general fund. Prior to reinstating services pursuant to subsection (1)(c), the department shall receive approval from the office of budget and program planning of its service reinstatement plan.
(3) The provisions of 17-2-108 that require the expenditure of nongeneral fund money prior to the expenditure of general fund money do not apply to the expenditure of revenue made available to the department because of the refinancing efforts required by 53-1-610 .

Legislative History

En. Sec. 3, Ch. 576, L. 2003.