2006 Utah Code - 72-2-124 — Transportation Investment Fund of 2005.

     72-2-124.   Transportation Investment Fund of 2005.
     (1) There is created a special revenue fund entitled the Transportation Investment Fund of 2005.
     (2) The fund consists of monies generated from the following sources:
     (a) any voluntary contributions received for the maintenance, construction, reconstruction, or renovation of state and federal highways; and
     (b) appropriations made to the fund by the Legislature.
     (3) When the highway general obligation bonds have been paid off and the highway projects completed that are intended to be paid from revenues deposited in the Centennial Highway Fund Restricted Account as determined by the Executive Appropriations Committee under Subsection 72-2-118(6)(d), the fund shall also consist of monies generated from the following sources:
     (a) registration fees designated under Subsection 41-1a-1201(6)(a);
     (b) the clean special fuel tax certificate surcharge under Subsection 59-13-304(3); and
     (c) the sales and use tax amounts provided for in Section 59-12-103.
     (4) (a) The fund shall earn interest.
     (b) All interest earned on fund monies shall be deposited into the fund.
     (5) (a) Except as provided in Subsections (5)(b) and (c), the executive director may use fund monies only to pay the costs of maintenance, construction, reconstruction, or renovation to state and federal highways prioritized by the Transportation Commission through the prioritization process for new transportation capacity projects adopted under Section 72-1-304.
     (b) The executive director may use fund monies deposited into the fund in fiscal year 2006 only to pay the costs of maintenance, construction, reconstruction, or renovation to state and federal highways prioritized by the Transportation Commission.
     (c) The executive director may use fund monies to exchange for an equal or greater amount of federal transportation funds to be used as provided in Subsection (5)(a).

Amended by Chapter 135, 2006 General Session
Amended by Chapter 11, 2006 General Session