Post Disaster Recovery and Mitigation Restricted Account.
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(1) There is created a restricted account in the General Fund known as the "Post Disaster Recovery and Mitigation Restricted Account."
(2) The account consists of:
(a) money appropriated to the account by the Legislature;
(b) income and interest derived from the deposit and investment of money in the account; and
(c) private donations, grants, gifts, bequests, or money made available from any other source to implement this section.
(3) At the close of a fiscal year, money in the account exceeding $10,000,000, excluding money granted to the account under Subsection (2)(c), shall be transferred to the General Fund.
(4) Subject to the requirements described in this part, and upon appropriation by the Legislature, the division may grant money appropriated from the account:
(a) to an affected community for the affected community's disaster recovery efforts as described in Section 53-2a-1303; or
(b) to a community for post hazard mitigation as described in Section 53-2a-1304.