(1)
(a) There is created within the General Fund a restricted account known as the "Public School Construction Oversight Restricted Account."
(b) The account shall be funded by:
(i) construction oversight fees collected under Section 63A-5b-1214;
(ii) administrative fees collected for division-managed construction services under Section 63A-5b-1213; and
(iii) any penalties collected under Section 63A-5b-1215.
(c) Money in the account:
(i) shall be used exclusively for public school construction oversight activities described in this part;
(ii) may not be used for other division operations unrelated to public school construction oversight;
(iii) does not lapse at the end of a fiscal year; and
(iv) shall earn interest, which shall be deposited into the account.
(2) The Legislature may appropriate money from the account to the division for implementation of this part, including:
(a) plan review and permitting activities;
(b) inspection roster maintenance and oversight;
(c) cost database development and maintenance;
(d) training and technical assistance programs;
(e) compliance monitoring and enforcement;
(f) online document management system operation;
(g) standardized design template development;
(h) staffing costs directly related to public school construction oversight;
(i) contracted services necessary for oversight activities; and
(j) other oversight activities this part requires.
(3) The division shall:
(a) maintain separate accounting for revenue and expenditures from the account;
(b) upon request, report to the Legislature on:
(i) total fee revenue collected;
(ii) account balance;
(iii) expenditures by category; and
(iv) projected future revenue and expenses; and
(c) ensure that fee rates are sufficient to fund oversight activities without requiring additional appropriations.