Utah Statutes
§ 53F-9-302 — Minimum Basic Growth Account.
Utah·Title 53F Public Education System -- Funding·Ch. 53F-9 Funds and Accounts·Part 53F-9-3 Income Tax Fund
(1)As used in this section, "account" means the Minimum Basic Growth Account created in this section.
(2)There is created within the Income Tax Fund a restricted account known as the "Minimum Basic Growth Account."
(3)The account shall be funded by amounts deposited into the account in accordance with Section 53F-2-301.
(4)The account shall earn interest.
(5)Interest earned on the account shall be deposited into the account.
(6)Upon appropriation by the Legislature:
(6)(a) 75% of the money from the account shall be used to fund the state's contribution to the voted local levy guarantee described in Section 53F-2-601; and
(6)(b) 25% of the money from the account shall be used to fund the Capital Outlay Foundation Program as provided in Section 53F-3-202.
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Legislative History
Amended by Chapter 165, 2025 General Session
Nearby Sections
15
§ 53F-1-101
Title.§ 53F-1-102
Public education code definitions.§ 53F-1-103
Title 53F definitions.§ 53F-1-104
Education monitoring and funds management.§ 53F-10-101
Definitions.§ 53F-10-201
Capital Projects Evaluation Panel.§ 53F-10-202
Panel duties.§ 53F-10-301
Capital development project grants.§ 53F-10-302
Capital development project loans.§ 53F-10-303
Rural School Sports Facilities Grant Program.§ 53F-2-101
Title.§ 53F-2-102
Definitions.§ 53F-2-103
Purpose of chapter.