The Division of Finance shall deposit interest or other earnings derived from investment of account money into the General Fund.
(5)
The Legislature shall appropriate money in the account to the division.
(6)
The division shall distribute the money in the account to one or more charitable organizations that:
(a)
are tax exempt under Section 501(c)(3) or (19), Internal Revenue Code; and
(b)
have as a primary part of their mission to provide support to organizations that create affordable housing for those in severe need.
(7)
The division may consider a proposal only if it is:
(a)
proposed by an organization described in Subsection (6); and
(b)
designed to provide support to organizations that create affordable housing for those in severe need.
(8)
(a)
An organization described in Subsection (6) may apply to the division to receive a distribution in accordance with Subsection (6).
(b)
An organization that receives a distribution from the division in accordance with Subsection (6) shall expend the distribution only to provide support to organizations that create affordable housing for those in severe need.
Section 61-2-204 ("Utah Housing Opportunity Restricted Account.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 61-2-204?
A common citation format is "Utah Code § 61-2-204" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 61-2-204 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
