Section 34A-2-705 - Industrial Accident Restricted Account(1) As used in this section: (a) "Account" means the Industrial Accident Restricted Account created by this section.(b) "Advisory council" means the state workers' compensation advisory council created under Section 34A-2-107.(2) There is created in the General Fund a restricted account known as the "Industrial Accident Restricted Account."(3)(a) The account is funded from: (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(ii) amounts deposited under Section 34A-2-1003.(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.(4)(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: (i) the activities of the Division of Industrial Accidents described in Section 34A-1-202;(ii) the activities of the Division of Adjudication described in Section 34A-1-202; and(iii) the activities of the commission described in Section 34A-2-1005.(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.(5)(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: (i) the commission's budget request to the governor for the next fiscal year related to: (A) the Division of Industrial Accidents; and(B) the Division of Adjudication;(ii) the expenditures of the commission for the fiscal year in which the commission is reporting related to: (A) the Division of Industrial Accidents; and(B) the Division of Adjudication;(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(iv) money deposited under Section 34A-2-1003.(b) The commission shall annually report to the governor and the Legislature regarding: (i) the use of the money appropriated to the commission under this section;(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(iii) money deposited under Section 34A-2-1003.Amended by Chapter 32, 2022 General Session ,§ 3, eff. 5/4/2022.Amended by Chapter 268, 2018 General Session ,§ 3, eff. 5/8/2018.Amended by Chapter 319, 2018 General Session ,§ 46, eff. 5/8/2018.Amended by Chapter 328, 2011 General Session.