State Housing Infrastructure Partnership Fund

(1) There is created a revolving loan fund known as the "State Housing Infrastructure Partnership Fund." (2) The fund consists of money generated from the following revenue sources: (a) appropriations made to the fund by the Legislature; (b) amounts received for the repayment of infrastructure loans made by the board under this part; (c) grants, gifts, loans, or other funding from: (i) the federal government; or (ii) other public or private sources; and (d) interest or other earnings deposited under Subsection (3). (3) The state treasurer shall: (a) invest the money in the fund by following the procedures and requirements of Title 51, Chapter 7, State Money Management Act; and (b) deposit all interest or other earnings derived from those investments into the fund. (4) Money in the fund may only be used for: (a) infrastructure loans made by the board under this part; and (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: (i) implementing this part; and (ii) facilitating the implementation of Section 63A-2-412 and Subsection 72-5-117(2)(f).