1. (1) As used in this section, "account" means the Minimum Basic Growth Account created in this section.
2. (2) There is created within the Income Tax Fund a restricted account known as the "Minimum Basic Growth Account."
3. (3) The account shall be funded by amounts deposited into the account in accordance with Section 53F-2-301.
4. (4) The account shall earn interest.
5. (5) Interest earned on the account shall be deposited into the account.

6. (6) Upon appropriation by the Legislature:

   1. (a) 75% of the money from the account shall be used to fund the state's contribution to the voted local levy guarantee described in Section 53F-2-601; and
   2. (b) 25% of the money from the account shall be used to fund the Capital Outlay Foundation Program as provided in Section 53F-3-202.

Amended by Chapter 165, 2025 General Session