37-50-209. (Temporary) Enterprise fund. (1) There is an enterprise fund, as described in 17-2-102, established for the use of the board. The money in the fund is statutorily appropriated as provided in 17-7-502.
(2) All licensing fees, other money collected by the department on behalf of the board, and all interest or earnings on money deposited in the enterprise fund must be deposited in or credited to the fund.
(3) Money in the enterprise fund must be invested by the board of investments pursuant to the provisions of the unified investment program for state funds.
(4) The enterprise fund must retain a cash reserve balance of at least 15% of the average of the last 3 years of revenue as needed for operation of the board and measured on completion of the license renewal cycle.
(5) The enterprise fund may not include money taken from the general fund. (Terminates September 30, 2019--sec. 10, Ch. 427, L. 2015.)
History: En. Sec. 1, Ch. 427, L. 2015.