39-6007. CHILDREN’S TRUST FUND — CREATION. (1) There is hereby created in the state treasury the children’s trust fund.
(2) The fund shall consist of:
(a) Moneys appropriated to the fund;
(b) Moneys as provided in section 63-3067A, Idaho Code;
(c) Donations, gifts, grants and other moneys from any source; and
(d) Any other moneys which may hereafter be provided by law.
(3) Moneys in the fund may be expended for purposes provided in this chapter, provided that the children’s trust fund advisory board is authorized to expend up to fifty percent (50%) of the moneys generated annually pursuant to section 63-3067A, Idaho Code. Interest earned on the investment of idle money in the children’s trust fund shall be returned to the children’s trust fund.
(4) Disbursements of moneys from the fund shall be on the authorization of the children’s trust fund board or a duly authorized representative of the board.
(5) After the balance in the children’s trust fund has reached two million five hundred thousand dollars ($2,500,000), no further collections shall be received by the state tax commission, and all references to the fund shall be deleted from income tax forms.
History:
[39-6007, added 1985, ch. 31, sec. 2, p. 62; am. 1987, ch. 337, sec. 4, p. 711; am. 2002, ch. 292, sec. 7, p. 843; am. 2005, ch. 342, sec. 1, p. 1069; am. 2014, ch. 52, sec. 4, p. 130.]
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