31A-38-104 - Authorization -- Monies transferred for reserves.
31A-38-104. Authorization -- Monies transferred for reserves.
(1) The Department of Workforce Services may:
(a) convert the bridge program to the state program through any of the following, orcombination of the following, that the Department of Workforce Services considers best servesthe needs of qualified participants:
(i) a contract with a licensed insurance company authorized to do business in the state;
(ii) through any other arrangement acceptable under the Trade Reform Act; or
(iii) a self-insurance program through a third party administrator as provided inSubsection 31A-38-103(3)(b)(ii);
(b) (i) in cooperation with the Division of Finance, establish an appropriate state fund forthe purpose of operation of the state program; and
(ii) transfer the balance of any monies received under the bridge program into this fund;and
(c) obligate up to $2,000,000 of the Workforce Services Special Administrative ExpenseFund as reserves for the state program.
(2) The monies in the fund created under Subsection (1)(b) are:
(a) nonlapsing; and
(b) restricted to the purposes of the state program established under this chapter.
(3) The monies in Subsection (1)(c) may be:
(a) used until the reserves in the state program become adequate; and
(b) transferred into or out of any fund created under Subsection (1)(b).
Amended by Chapter 221, 2005 General Session