Utah Code 19-6-816.5. Fund balance maintenance
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(1) As used in this section:
Terms Used In Utah Code 19-6-816.5
- Division: means the Division of Waste Management and Radiation Control created in Section 19-1-105. See Utah Code 19-6-803
- Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
- 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.
- Fund: means the Waste Tire Recycling Fund created in Section 19-6-807. See Utah Code 19-6-803
- Recycler: means a person who:(20)(a) annually uses, or can reasonably be expected within the next year to use, a minimum of 100,000 waste tires generated in the state or 1,000 tons of waste tires generated in the state to recover energy or produce energy, crumb rubber, chipped tires, or an ultimate product; and(20)(b) is registered as a recycler in accordance with Section 19-6-806. See Utah Code 19-6-803(1)(a) “Qualified recycler” means a recycler who is qualified to receive a partial reimbursement under Section 19-6-809 during a fiscal year for which there are surplus funds.(1)(b) “Surplus funds” means, at the end of a fiscal year, money in the fund in excess of $2,000,000 after all partial reimbursements and payments to local health departments as provided in this part have been paid.
(2) At the end of a fiscal year, the Division of Finance shall use surplus funds to make payments to qualified recyclers equal to $10 for each ton of waste tires, material derived from waste tires, or chipped tires, for which the recycler received a partial reimbursement under Subsection 19-6-809(2).
(3) If the surplus funds are insufficient to make the payments described in Subsection (2), the Division of Finance shall prorate the amount per ton that is paid to each qualified recycler.
(4) The Division of Finance may not make a payment under this section that would cause the balance of the fund to be less than $2,000,000.