(1) There is created an enterprise fund known as the "Water Infrastructure Fund," which is referred to in this section as the "fund." (2) The fund shall consist of: (a) appropriations from the Legislature; (b) money from the federal government; (c) grants or donations from a person; (d) money made available to the state for purposes of water infrastructure projects from any source; (e) money received for the repayment of loans made from the Water Resources Cities Water Loan Fund that were issued before May 7, 2025; (f) money transferred to the fund under Subsection (5); and (g) interest and earnings on the fund. (3) The state treasurer shall invest the money in the fund according to Title 51, Chapter 7, State Money Management Act, except that interest or other earnings derived from those investments shall be deposited into the fund. (4) (a) The Water Development Coordinating Council may use money in the fund to pay for the costs of administering Part 6, Planning and Prioritization, including staff directly related to the activities of the Water Development Coordinating Council under Part 6, Planning and Prioritization. (b) The division may use money in the fund to pay for the costs of the study required by Section 73-10-39. (c) Fund money may be used, in accordance with Section 73-10g-603, to provide money to a relevant agency, as defined in Section 73-10g-601. (5) (a) Each fiscal year beginning with fiscal year 2027, the Division of Finance shall transfer the money described in this Subsection (5) to the fund at the close of the fiscal year. (b) The Water Quality Board shall at the close of a fiscal year beginning with fiscal year 2027: (i) determine the amount of money in the Water Quality Security - Utah Wastewater Loan Program Subaccount, created in Section 73-10c-5, that is in excess of the money needed to fund loans authorized in the previous fiscal year under the Utah Wastewater Loan Program; (ii) determine the amount of the money described in Subsection (5)(b)(i) that should be transferred under this Subsection (5)(b); and (iii) direct the Division of Finance to transfer the amount of money described in Subsection (5) (b)(ii) to the fund. (c) The Drinking Water Board shall at the close of a fiscal year beginning with fiscal year 2027: (i) determine the amount of money in the Drinking Water Security - Drinking Water Loan Program Subaccount, created in Section 73-10c-5, that is in excess of the money needed to fund loans authorized in the previous fiscal year under the Drinking Water Loan Program; (ii) determine the amount of the money described in Subsection (5)(c)(i) that should be transferred under this Subsection (5)(c); and (iii) direct the Division of Finance to transfer the amount of money described in Subsection (5) (c)(ii) to the fund. (d) The Board of Water Resources shall at the close of a fiscal year beginning with fiscal year 2027: (i) determine the amount of money in the Water Resources Conservation and Development Fund, created in Section 73-10-24, that is in excess of the sum of the money: (A) specified in Subsection 59-12-103(5)(d) for the purposes described in Subsection 59-12-103(5)(d); and (B) needed to fund loans or grants authorized in the previous fiscal year under Chapter 10, Board of Water Resources - Division of Water Resources; (ii) determine the amount of the money described in Subsection (5)(d)(i) that should be transferred under this Subsection (5)(d); and (iii) direct the Division of Finance to transfer the amount of money described in Subsection (5) (d)(ii) to the fund.
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