Minimum Basic Growth Account.

  1. Law
  2. Utah Code
  3. Public Education System -- Funding
  4. Funds and Accounts
  5. Education Fund
  6. Minimum Basic Growth Account.

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Affected by 63I-2-253 on 7/1/2023

Effective 5/14/2019
53F-9-302. Minimum Basic Growth Account.
  • (1) As used in this section, "account" means the Minimum Basic Growth Account created in this section.
  • (2) There is created within the Education 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 or 53F-2-301.5, as applicable.
  • (4) The account shall earn interest.
  • (5) Interest earned on the account shall be deposited into the account.
  • (6) Upon appropriation by the Legislature:
    • (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;
    • (b) 20% of the money from the account shall be used to fund the Capital Outlay Foundation Program as provided in Section 53F-3-202; and
    • (c) 5% of the money from the account shall be used to fund the Capital Outlay Enrollment Growth Program as provided in Section 53F-3-203.




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