Utah § 49-11-902 Premium tax revenues -- Formula -- Deposits.

Utah Statutes

§ 49-11-902 — Premium tax revenues -- Formula -- Deposits.

Utah § 49-11-902

Title 49Utah State Retirement and Insurance Benefit Act

Ch. 49-11Utah State Retirement Systems Administration

Part 49-11-9Insurance Premium Tax Revenues Distribution

This text of Utah § 49-11-902 (Premium tax revenues -- Formula -- Deposits.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 49-11-902 (2026).

Text

(1)If the premium tax revenue received by the office under Subsection 49-11-901.5(1) and first paid in accordance with Subsections 49-11-901.5(2)(a) and (b), including any remaining amount, the office shall deposit the amount in the:

(1)(a) Public Safety Contributory Trust Fund created under Section 49-14-104; and

(1)(b) Public Safety Noncontributory Retirement Trust Fund created under Section 49-15-104.

(2)The money deposited under this section shall be used to fund an increase for retirees in the public safety retirement systems from a 2.5% maximum annual cost-of-living adjustment to a 4% maximum annual cost-of-living adjustment under Sections 49-14-403 and 49-15-403 in the public safety retirement systems.

(3)As required to implement this section, the office shall make the calculati

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(1) If the premium tax revenue received by the office under Subsection 49-11-901.5(1) and first paid in accordance with Subsections 49-11-901.5(2)(a) and (b), including any remaining amount, the office shall deposit the amount in the:

(1)(a) Public Safety Contributory Trust Fund created under Section 49-14-104; and
(1)(b) Public Safety Noncontributory Retirement Trust Fund created under Section 49-15-104.
(2) The money deposited under this section shall be used to fund an increase for retirees in the public safety retirement systems from a 2.5% maximum annual cost-of-living adjustment to a 4% maximum annual cost-of-living adjustment under Sections 49-14-403 and 49-15-403 in the public safety retirement systems.
(3) As required to implement this section, the office shall make the calculations and deposits for the equitable apportionment of money between:

(3)(a) Division A1 and B1; and
(3)(b) the contributory and noncontributory trust funds.