UT Code § 53F-2-404 (2021)
2021 Utah Code|Title 53F - Public Education System -- Funding|Chapter 2 - State Funding -- Minimum School Program|Part 4 - Related to Basic Program -- Formula Programs|Section 404 - School LAND Trust Program distribution of funds.

 Effective 5/12/2020  53F-2-404. School LAND Trust Program distribution of funds.    (1)   (a) By appropriation the Legislature shall fund the School LAND Trust Program, established in Section 53G-7-1206, on or before July 31 of each fiscal year:   (i) from the Trust Distribution Account, created in Section 53F-9-201; and     (ii) except as provided in Subsection (1)(b), in the total amount of the quarterly deposits made to the Trust Distribution Account for the School LAND Trust Program during the prior fiscal year.       (b) The amount described in Subsection (1)(a)(ii) may not exceed an amount equal to 3% of the funds provided for the Minimum School Program, in accordance with this chapter, each fiscal year.     (c) Independently from the appropriation for the School LAND Trust Program described in Subsection (1)(a), the Legislature shall make an annual appropriation to the state board from the Trust Distribution Account, created in Section 53F-9-201, for the administration of the School LAND Trust Program.     (d) Any unused balance remaining from an amount appropriated under Subsection (1)(c) shall be deposited into the Trust Distribution Account.       (2)   (a) The state board shall allocate the money referred to in Subsection (1)(a) annually as follows:   (i) the Utah Schools for the Deaf and the Blind shall receive funding equal to the product of:   (A) enrollment on October 1 in the prior year at the Utah Schools for the Deaf and the Blind divided by enrollment on October 1 in the prior year in public schools statewide; and     (B) the total amount available for distribution under Subsection (1)(a);       (ii) charter schools shall receive funding equal to the product of:   (A) charter school enrollment on October 1 in the prior year, divided by enrollment on October 1 in the prior year in public schools statewide; and     (B) the total amount available for distribution under Subsection (1)(a); and       (iii) of the funds available for distribution under Subsection (1)(a) after the allocation of funds for the Utah Schools for the Deaf and the Blind and charter schools:   (A) school districts shall receive 10% of the funds on an equal basis; and     (B) the remaining 90% of the funds shall be distributed to school districts on a per student basis.         (b)   (i) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the state board shall make rules specifying a formula to distribute the amount allocated under Subsection (2)(a)(ii) to charter schools.     (ii) In making rules under Subsection (2)(b)(i), the state board shall:   (A) consult with the State Charter School Board; and     (B) ensure that the rules include a provision that allows a charter school in the charter school's first year of operations to receive funding based on projected enrollment, to be adjusted in future years based on actual enrollment.         (c) A school district shall distribute its allocation under Subsection (2)(a)(iii) to each school within the school district on an equal per student basis.     (d) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the state board may make rules regarding the time and manner in which the student count shall be made for allocation of the money under Subsection (2)(a)(iii).      Amended by Chapter 408, 2020 General Session