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8A.365 - VEHICLE REPLACEMENT -- DEPRECIATION FUND.

        8A.365  VEHICLE REPLACEMENT -- DEPRECIATION FUND.
         1.  The director shall maintain a depreciation fund for the
      purchase of replacement motor vehicles and additions to the fleet.
      The director's records shall show the total funds deposited by and
      credited to each department or agency.  At the end of each month, the
      director shall render a statement to each state department or agency
      for additions to the fleet and total depreciation credited to that
      department or agency.  Such depreciation expense shall be paid by the
      state departments or agencies in the same manner as other expenses
      are paid, and shall be deposited in the depreciation fund to the
      credit of the department or agency.  The funds credited to each
      department or agency shall remain the property of the department or
      agency.  However, at the end of each biennium, the director shall
      cause to revert to the fund from which it accumulated any unassigned
      depreciation.
         2.  The department of corrections is not obligated to pay the
      depreciation expense otherwise required by this section.  

         Section History: Recent Form

         2003 Acts, ch 145, §55
         Referred to in § 8A.366