81-1-112: (Effective July 1, 2029) Livestock loss mitigation restricted account.

(1) There is an account in the state special revenue fund established by 17-2-102 to be known as the livestock loss mitigation restricted special revenue account. The account is administered by the department.

(2) Each fiscal year, the amount provided in 15-1-122(3) is transferred to the account from the state general fund and is restricted to the purpose of making payments to livestock producers for confirmed and probable livestock losses pursuant to 2-15-3112(2). Money in the account may not be expended for administrative expenses.

(3) On June 30 of each year, any unencumbered funds in the account in excess of $300,000 must be transferred to the livestock loss reduction restricted special revenue account established in 81-1-113.