(1) There is created a revolving loan fund known as the "State Housing Infrastructure Partnership Fund."
(2) The fund consists of money generated from the following revenue sources:
(a) appropriations made to the fund by the Legislature;
(b) amounts received for the repayment of infrastructure loans made by the board under this part;
(c) grants, gifts, loans, or other funding from:
(i) the federal government; or
(ii) other public or private sources; and
(d) interest or other earnings deposited under Subsection (3).
(3) The state treasurer shall:
(a) invest the money in the fund by following the procedures and requirements of Title 51, Chapter 7, State Money Management Act; and
(b) deposit all interest or other earnings derived from those investments into the fund.
(4) Money in the fund may only be used for:
(a) infrastructure loans made by the board under this part; and
(b) the administrative costs incurred by the office, in an amount that does not exceed 1% of the revenues of the fund, including any appropriation to the fund, from:
(i) implementing this part; and
(ii) facilitating the implementation of Section 63A-2-412 and Subsection 72-5-117(2)(f).