Section 35-1101 - Legislative consideration; funds; trust status; report; requirementsA. A statutory fund established prior to the effective date of this section may not be reclassified as a fund held in trust unless the fund under consideration meets the following factors: 1. Serves at least one of the following purposes:(a) Protects public health or safety.(b) Provides consumer protection by ensuring quality standards of an industry.(c) Provides research grants for projects designed to further the purposes of the program.2. Is for a program that meets both of the following requirements:(a) Is funded primarily by industry fees assessed on a specified group of people and designated for a particular purpose.(b) Has independent industry council review of the program budget and fees.B. Any legislative standing committee considering legislation to reclassify a statutory fund to a fund held in trust shall affirm that the fund seeking reclassification meets the factors outlined in subsection A.