(1)
(a) The terms defined in Section 53G-5-102 apply to this section.
(b) As used in this section, "account" means the Charter School Levy Account created in this section.
(2) There is created within the Income Tax Fund a restricted account known as the "Charter School Levy Account."
(3) The account shall be funded by amounts deposited into the account in accordance with Section 53F-2-703.
(4) Upon appropriation from the Legislature, the state board shall distribute funds from the account as described in Section 53F-2-703.
(5) The account shall earn interest.
(6) Interest earned on the account shall be deposited into the account.
(7) Funds in the account are nonlapsing.