17-1-511. General fund transfer. (1) By November 1, 2008, the department of revenue shall determine the total amount of the tax credit claimed under 15-30-2369 through 15-30-2372 that was taken by physicians practicing in rural areas for tax years 2006 and 2007 and calculate the average of those amounts. The department of revenue shall report the average amount determined under this subsection to the state treasurer.
     (2) (a) For the fiscal year beginning July 1, 2008, the state treasurer shall transfer 25% of the amount reported under subsection (1) from the general fund to the state special revenue account created in 20-26-1501. The transfer under this subsection (2)(a) may not occur until after the amount is reported by the department of revenue under subsection (1).
     (b) For the fiscal year beginning July 1, 2009, the state treasurer shall transfer 50% of the amount reported under subsection (1) from the general fund to the state special revenue account created in 20-26-1501.
     (c) For the fiscal year beginning July 1, 2010, the state treasurer shall transfer 75% of the amount reported under subsection (1) from the general fund to the state special revenue account created in 20-26-1501.
     (d) For each fiscal year beginning after June 30, 2011, the state treasurer shall transfer 100% of the amount reported under subsection (1) from the general fund to the state special revenue account created in 20-26-1501.

     History: En. Sec. 2, Ch. 361, L. 2007.