1. (1) There is created a revolving loan fund known as the "State Housing Infrastructure Partnership Fund."

2. (2) The fund consists of money generated from the following revenue sources:

   1. (a) appropriations made to the fund by the Legislature;
   2. (b) amounts received for the repayment of infrastructure loans made by the board under this part;

   3. (c) grants, gifts, loans, or other funding from:

      1. (i) the federal government; or
      2. (ii) other public or private sources; and
   4. (d) interest or other earnings deposited under Subsection (3).

3. (3) The state treasurer shall:

   1. (a) invest the money in the fund by following the procedures and requirements of Title 51, Chapter 7, State Money Management Act; and
   2. (b) deposit all interest or other earnings derived from those investments into the fund.

4. (4) Money in the fund may only be used for:

   1. (a) infrastructure loans made by the board under this part; and

   2. (b) the administrative costs incurred by the office, in an amount that does not exceed 1% of the revenues of the fund, including any appropriation to the fund, from:

      1. (i) implementing this part; and
      2. (ii) facilitating the implementation of Section 63A-2-412 and Subsection 72-5-117(2)(f).

Enacted by Chapter 371, 2026 General Session