Effective - 28 Aug 1993
620.015. Administrative fund, uses, administration of. — The director of the department of economic development shall administer a revolving "Department of Economic Development Administrative Fund", which is hereby established, and shall be funded annually by appropriations. Such fund shall consist of any gifts, contributions, grants or bequests received from federal, private or other sources and contain moneys transferred or paid to the department of economic development in return for goods and services provided by the department of economic development for services to any governmental entity or the public. The state treasurer shall be the custodian of the fund, and shall approve disbursements from the fund for the purchase of goods or services at the request of the director of the department of economic development. Notwithstanding the provisions of section 33.080, moneys in the fund shall not lapse, unless and then only to the extent to which the unencumbered balance at the close of any fiscal year exceeds one-twelfth of the total amount appropriated, paid, or transferred to the fund during such fiscal year. The director of the department of economic development shall prepare an annual report of all receipts and expenditures from the fund.
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(L. 1991 H.B. 516, A.L. 1993 H.B. 566 merged with S.B. 336)