Utah Code § 63J-1-314 — Utah Code / Title 63J / Chapter 63J-1 / § 63J-1-314
§ 63J-1-314. Deposits related to the Utah Wildfire Fund and the Disaster Recovery Funding Act.
Status: in_force

(1) As used in this section, "operating deficit" means that, at the end of the fiscal year, the unassigned fund balance in the General Fund is less than zero. (2) Except as provided under Subsections (3) and (4), at the end of each fiscal year, the Division of Finance shall, after the transfer of General Fund revenue surplus has been made to the Medicaid Growth Reduction and Budget Stabilization Account, as provided in Section 63J-1-315, and the General Fund Budget Reserve Account, as provided in Section 63J-1-312, transfer: (a) (i) for a fiscal year ending on or after June 30, 2026, to the Utah Wildfire Fund created in Section 65A-8-217, $4,000,000 each fiscal year until an aggregate amount of $20,000,000 is transferred under this Subsection (2)(a)(i); and (ii) for a fiscal year ending after the requirements of Subsection (2)(a)(i) are met, to the Utah Wildfire Fund created in Section 65A-8-217, an amount equal to the lesser of: (A) $4,000,000; or (B) an amount necessary to make the balance in the Utah Wildfire Fund equal to $70,000,000; and (b) an amount into the State Disaster Recovery Restricted Account, created in Section 53-2a-603, from the General Fund revenue surplus as defined in Section 63J-1-312, calculated by: (i) determining the amount of General Fund revenue surplus after the transfer to the Medicaid Growth Reduction and Budget Stabilization Account under Section 63J-1-315, the General Fund Budget Reserve Account under Section 63J-1-312, and the transfer to the Utah Wildfire Fund as described in Subsection (2)(a); (ii) calculating an amount equal to the lesser of: (A) 25% of the amount determined under Subsection (2)(b)(i); or (B) 6% of the total of the General Fund appropriation amount for the fiscal year in which the surplus occurs; and (iii) adding to the amount calculated under Subsection (2)(b)(ii) an amount equal to the lesser of: (A) 25% more of the amount described in Subsection (2)(b)(i); or (B) the amount necessary to replace, in accordance with this Subsection (2)(b)(iii), any amount appropriated from the State Disaster Recovery Restricted Account within 10 fiscal years before the fiscal year in which the surplus occurs if: (I) a surplus exists; and (II) the Legislature appropriates money from the State Disaster Recovery Restricted Account that is not replaced by appropriation or as provided in this Subsection (2)(b)(iii). (3) (a) Notwithstanding Subsection (2), if, at the end of a fiscal year, the Division of Finance determines that an operating deficit exists, the division shall reduce the transfer to the State Disaster Recovery Restricted Account by an amount necessary to eliminate the operating deficit, up to the full amount of the transfer. (b) If, after reducing the transfer to the State Disaster Recovery Account to zero under Subsection (3)(a), the Division of Finance determines that an operating deficit still exists, the division shall reduce the transfer to the Utah Wildfire Fund by an amount necessary to eliminate the operating deficit, up to the full amount of the transfer. (4) Notwithstanding Subsection (2): (a) for the period beginning July 1, 2015, and ending June 30, 2020, the Division of Finance shall transfer to the Local Government Emergency Response Loan Fund 25% of the amount to be transferred into the State Disaster Recovery Restricted Account as provided in Subsection (2)(b)(ii); and (b) on and after July 1, 2020, the Division of Finance shall transfer to the Local Government Emergency Response Loan Fund 10% of the amount to be transferred into the State Disaster Recovery Restricted Account as provided in Subsection (2)(b). (5) On and after July 1, 2025, once annually at the close of the fiscal year, if the balance of the State Disaster Recovery Restricted Account, created in Section 53-2a-603, exceeds $50,000,000, the Division of Finance shall: (a) reduce the balance of the State Disaster Recovery Restricted Account by the lesser of: (i) the amount that exceeds $50,000,000; or (ii) $10,000,000; and (b) transfer to the Disaster Response, Recovery, and Mitigation Restricted Account (2)(b)the money described in Subsection (5)(a).