Iowa Code 553.19 – Antitrust fund
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Terms Used In Iowa Code 553.19
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
553.19 Antitrust fund.
1. An antitrust fund is created as a separate fund in the state treasury to be administered
by the attorney general. Moneys credited to the fund shall include amounts received as a result of a state or federal civil antitrust judgment or settlement which are based on damages sustained by the state, civil penalties, costs, or attorney fees, and amounts which are specifically directed to the credit of the fund by the judgment or settlement, and amounts which are designated by the judgment or settlement for use by the attorney general for antitrust enforcement or education. Amounts based upon damages sustained by individuals or entities outside of state government not designated for antitrust enforcement purposes or amounts based upon actual damages awarded to the state which would not otherwise be deposited in the general fund of the state shall not be credited to the fund.
2. For each fiscal year, not more than five hundred thousand dollars is appropriated from the fund to the department of justice to be used for enforcement of this chapter and chapter
551, and for enforcement of federal antitrust laws and for public education about state and federal antitrust laws.
3. Notwithstanding § 8.33, moneys credited to the fund shall not revert to any other fund. Notwithstanding § 12C.7, interest or earnings on the moneys in the fund shall be credited to the fund.
2007 Acts, ch 213, §23
1. An antitrust fund is created as a separate fund in the state treasury to be administered
by the attorney general. Moneys credited to the fund shall include amounts received as a result of a state or federal civil antitrust judgment or settlement which are based on damages sustained by the state, civil penalties, costs, or attorney fees, and amounts which are specifically directed to the credit of the fund by the judgment or settlement, and amounts which are designated by the judgment or settlement for use by the attorney general for antitrust enforcement or education. Amounts based upon damages sustained by individuals or entities outside of state government not designated for antitrust enforcement purposes or amounts based upon actual damages awarded to the state which would not otherwise be deposited in the general fund of the state shall not be credited to the fund.
2. For each fiscal year, not more than five hundred thousand dollars is appropriated from the fund to the department of justice to be used for enforcement of this chapter and chapter
551, and for enforcement of federal antitrust laws and for public education about state and federal antitrust laws.
3. Notwithstanding § 8.33, moneys credited to the fund shall not revert to any other fund. Notwithstanding § 12C.7, interest or earnings on the moneys in the fund shall be credited to the fund.
2007 Acts, ch 213, §23