SB 82

Enrolled Copy  S.B. 82
1      Securities Investor Education, Training, and Enforcement Fund Amendments
  2026 GENERAL SESSION
  STATE OF UTAH
  Chief Sponsor: Michael K. McKell
  House Sponsor: David Shallenberger
2
3  LONG TITLE
4  General Description:
5      This bill increases the cap limit on the Securities Investor Education, Training, and
6  Enforcement Fund.
7  Highlighted Provisions:
8      This bill:
9      ▸ increases the cap limit on the Securities Investor Education, Training, and Enforcement
10  Fund from $500,000 to $1,000,000; and
11      ▸ makes technical changes.
12  Money Appropriated in this Bill:
13      None
14  Other Special Clauses:
15      None
16  Utah Code Sections Affected:
17  AMENDS:
18      61-1-18.7, as last amended by Laws of Utah 2013, Chapter 400
19
20  Be it enacted by the Legislature of the state of Utah:
21Section 1. Section 61-1-18.7 is amended to read:
2261-1-18.7 . Funding of securities investor education, training, and enforcement.
23  (1)(a) There is created an expendable special revenue fund known as the "Securities
24      Investor Education, Training, and Enforcement Fund" to provide revenue for the
25      purposes stated in this section.
26      (b) [For purposes of ] As used in this section, "fund" means the Securities Investor
27Education, Training, and Enforcement Fund.
28  (2) [Money] The state shall deposit money received by the state by reason of civil penalties
 S.B. 82  Enrolled Copy
29ordered and administrative fines collected [pursuant to] in accordance with this chapter [
30shall be deposited in] into the fund, and is subject to the requirements of Title 51,
31Chapter 5, Funds Consolidation Act.
32   (3) [A] The division shall deposit a fine collected by the division after July 1, 1989, [
33pursuant to] in accordance with a voluntary settlement or administrative order [shall be
34deposited ]into the fund.
35   (4)(a) The fund shall earn interest.
36(b) [Interest ] The division shall deposit interest earned on fund money [shall be
37deposited ]into the fund.
38   (5) Notwithstanding Title 63J, Chapter 1, Budgetary Procedures Act, the director may use
39money in the fund, upon concurrence of the commission and the executive director of
40the Department of Commerce, in a manner consistent with the duties of the division and
41commission under this chapter and only for any or all of the following and the expense
42of providing [them] the following:
43(a) education and training of Utah residents in matters concerning securities laws and
44investment decisions, by publications or presentations;
45(b) education of registrants and licensees under this chapter, by:
46(i) publication of this chapter and rules and policy statements and opinion letters
47issued under this chapter; and
48(ii) sponsorship of seminars or meetings to educate registrants and licensees as to the
49requirements of this chapter;
50(c) investigation and litigation; and
51(d) to pay an award to a reporter as provided in Part 1, Securities Fraud Reporting
52Program Act.
53   (6) If the balance in the fund exceeds [$500,000 ] $1,000,000 at the close of any fiscal year,
54the division shall transfer the excess [shall be transferred ]to the General Fund.
55Section 2. Effective Date.
56   This bill takes effect on May 6, 2026.
  -2-