Establishment; purpose; investment of money in fund; reversion
of funds
Sec. 1. (a) The financial institutions tax fund is established for the
purpose of making distributions to counties and for providing
revenue for state appropriations. The fund shall be administered by
the treasurer of state.
(b) The treasurer of state shall invest the money in the fund not
currently needed to meet the obligations of the fund in the same
manner as other public funds may be invested.
(c) Money in the fund at the end of a fiscal year does not revert to
the state general fund.
As added by P.L.347-1989(ss), SEC.1.
Last modified: May 28, 2006