{"data":{"id":"us-ut/utah-code-34a-2-705","jurisdiction":"us-ut","citation":"Utah Code § 34A-2-705","heading":"Industrial Accident Restricted Account.","body":"(1) As used in this section:\n(a) \"Account\" means the Industrial Accident Restricted Account created by this section.\n(b) \"Advisory council\" means the state workers' compensation advisory council created under Section 34A-2-107.\n(2) There is created in the General Fund a restricted account known as the \"Industrial Accident Restricted Account.\"\n(3)\n(a) The account is funded from:\n(i) .5% of the premium income remitted to the state treasurer and credited to the account pursuant to Subsection 59-9-101(2)(c)(iv); and\n(ii) amounts deposited under Section 34A-2-1003.\n(b) If the balance in the account exceeds $500,000 at the close of a fiscal year, the excess shall be transferred to the Uninsured Employers' Fund created under Section 34A-2-704.\n(4)\n(a) From money appropriated by the Legislature from the account to the commission and subject to the requirements of this section, the commission may fund:\n(i) the activities of the Division of Industrial Accidents described in Section 34A-1-202;\n(ii) the activities of the Division of Adjudication described in Section 34A-1-202; and\n(iii) the activities of the commission described in Section 34A-2-1005.\n(b) The money deposited in the account may not be used for a purpose other than a purpose described in this Subsection (4), including an administrative cost or another activity of the commission unrelated to the account.\n(5)\n(a) Each year before the public hearing required by Subsection 59-9-101(2)(d)(i), the commission shall report to the advisory council regarding:\n(i) the commission's budget request to the governor for the next fiscal year related to:\n(A) the Division of Industrial Accidents; and\n(B) the Division of Adjudication;\n(ii) the expenditures of the commission for the fiscal year in which the commission is reporting related to:\n(A) the Division of Industrial Accidents; and\n(B) the Division of Adjudication;\n(iii) revenues generated from the premium assessment under Section 59-9-101 on an admitted insurer writing workers' compensation insurance in this state and on a self-insured employer under Section 34A-2-202; and\n(iv) money deposited under Section 34A-2-1003.\n(b) The commission shall annually report to the governor and the Legislature regarding:\n(i) the use of the money appropriated to the commission under this section;\n(ii) revenues generated from the premium assessment under Section 59-9-101 on an admitted insurer writing workers' compensation insurance in this state and on a self-insured employer under Section 34A-2-202; and\n(iii) money deposited under Section 34A-2-1003.","path":["Title 34A Utah Labor Code","Chapter 34A-2 Workers' Compensation Act","Part 34A-2-7 Funds"],"source_url":"https://le.utah.gov/xcode/Title34A/Chapter2/34A-2-S705.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"a26aa3729ffdbe245fc3aa34ba1555899fa593bcd0c7c2f0be0d175eb858b7d1","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-34a-2-704","next":"us-ut/utah-code-34a-2-706"},"notice":"GroundRules: Original legal text. Not legal advice."}