35A-4-506 - Special Administrative Account.
35A-4-506. Special Administrative Account.
(1) There is created a restricted account within the General Fund known as the "SpecialAdministrative Expense Account."
(2) (a) Interest and penalties collected under this chapter, less refunds made underSubsection 35A-4-306(5), shall be paid into the restricted account from the clearing account ofthe restricted account at the end of each calendar month.
(b) A contribution to the restricted account and any other money received for that purposeshall be paid into the restricted account.
(c) The money may not be expended in any manner that would permit their substitutionfor, or a corresponding reduction in, federal funds that would in the absence of the money beavailable to finance expenditures for the administration of this chapter.
(3) Nothing in this section shall prevent the money from being used as a revolving fundto cover expenditures, necessary and proper under this chapter, for which federal funds have beenduly requested but not yet received subject to the charging of those expenditures against thefunds when received.
(4) Money in the restricted account shall be deposited, administered, and dispersed inaccordance with the directions of the Legislature.
(5) Money in the restricted account is made available to replace, within a reasonabletime, any money received by this state under Section 302 of the Federal Social Security Act, 42U.S.C. 502, as amended, that because of any action of contingency have been lost or have beenexpended for purposes other than or in amounts in excess of those necessary for the properadministration of this chapter.
(6) Money in the restricted account shall be available to the division for expenditure inaccordance with this section and shall not lapse at any time or be transferred to any other fund oraccount except as directed by the Legislature.
(7) The state treasurer shall pay all warrants drawn upon it by the division or its dulyauthorized agent in accordance with such rules as the department shall prescribe.
(8) (a) The state treasurer shall be liable on the state treasurer's official bond for thefaithful performance of the treasurer's duties in connection with the Special AdministrativeExpense Account provided for under this chapter.
(b) Liability on the official bond shall exist in addition to any liability upon any separatebond existent on the effective date of this provision or that may be given in the future.
(c) Any money recovered on any surety bond losses sustained by the SpecialAdministrative Expense Account shall be deposited in the restricted account or in the GeneralFund if so directed by the Legislature.
Amended by Chapter 277, 2010 General Session
Amended by Chapter 278, 2010 General Session