(1) (a) The legal services offset fund is hereby created in the state treasury. The fund consists of the civil penalties that are collected and credited to the fund pursuant to section 40-7-112 (1)(b) for violations of article 10.1 of this title 40 or commission rules promulgated pursuant to article 10.1 of this title 40. The money in the fund is continuously appropriated to the department of regulatory agencies for use to offset the costs of legal representation of the staff of the commission in proceedings before the commission concerning the enforcement of article 10.1 of this title 40. The department of regulatory agencies shall use the money in the legal services offset fund to support appropriations made to the department that are used for legal representation of the staff of the commission in proceedings concerning the enforcement of article 10.1 of this title 40.
(b) The money in the fund and any interest earned on money in the fund at the end of any fiscal year remains in the fund and shall not be transferred to the general fund or any other fund; except that, if the balance in the fund exceeds two hundred fifty thousand dollars, the state treasurer shall transfer the money in excess of two hundred fifty thousand dollars to the general fund.
(2) In accordance with section 24-75-402 (2)(a) and for each fiscal year, the alternative maximum reserve for the legal services offset fund is two hundred fifty thousand dollars.
Source: L. 2017: Entire section added, (SB 17-180), ch. 281, p. 1532, § 3, effective August 9. L. 2019: (1)(a) amended, (SB 19-236), ch. 359, p. 3312, § 18, effective May 30.