Disposition of proceeds received by division from sale of property.
Checkout our iOS App for a better way to browser and research.
(1)
(a) Except as provided in Section 62A-5-206.7, the division shall pay into the state treasury the money received from the transfer of ownership or lease of division-owned property.
(b) Money paid into the state treasury under Subsection (1)(a):
(i) becomes a part of the funds provided by law for carrying out the building program of the state; and
(ii) is appropriated for the purpose described in Subsection (1)(b)(i).
(2) The proceeds from the transfer of ownership or lease of division-owned property belonging to or used by a particular state agency shall, to the extent practicable, be expended for the construction of buildings or in the performance of other work for the benefit of that state agency.