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(1) As used in this section:
(a) "Annual local contribution" means:
(i) for a participating local government, the lesser of $200,000 or an amount equal to 1.8% of the participating local government's tax revenue distribution amount under Subsection 59-12-205(2)(a) for the previous fiscal year; or
(ii) for an eligible municipality or a grant eligible entity that is certified in accordance with Section 35A-8-609, $0.
(b) "Eligible municipality" means the same as that term is defined in Section 35A-16-305.
(c) "Grant eligible entity" means the same as that term is defined in Section 35A-16-306.
(d) "Participating local government" means a county or municipality, as defined in Section 10-1-104, that is not an eligible municipality or grant eligible entity as certified by the department in accordance with Section 35A-16-307.
(2) There is created a restricted account within the General Fund known as the Homeless Shelter Cities Mitigation Restricted Account.
(3) The account shall be funded by:
(a) local sales and use tax revenue deposited into the account in accordance with Section 59-12-205; and
(b) interest earned on the account.
(4)
(a) The office shall administer the account.
(b) Subject to appropriation, the office shall disburse funds from the account to:
(i) eligible municipalities in accordance with Sections 35A-16-305 and 63J-1-802; and
(ii) grant eligible entities in accordance with Sections 35A-16-306 and 63J-1-802.