1. (1) There is created an enterprise fund known as the "State Small Business Credit Initiative Program Fund" administered by the office.
2. (2) The executive director or the executive director's designee is the administrator of the fund.

3. (3) Revenues deposited into the fund shall consist of:

   1. (a) grants, pay backs, bonuses, entitlements, and other money received from the federal government to implement the State Small Business Credit Initiative; and
   2. (b) transfers, grants, gifts, bequests, and other money made available from any source to implement this part.

4. (4)

   1. (a) The state treasurer shall invest the money in the fund according to the procedures and requirements of Title 51, Chapter 7, State Money Management Act.
   2. (b) Interest and other earnings derived from the fund money shall be deposited in the fund.
5. (5) The office may use fund money for administration of the fund.

Amended by Chapter 499, 2023 General Session