CHAPTER 12. PUBLIC MONEYS AND SECURITIES.

§12-3-10d. Purchasing Card Fund continued; expenditures.

(a) All money received by the state pursuant to any agreement with vendors providing purchasing charge cards, and any interest or other return earned on the money, shall be deposited in a special revenue revolving fund, designated the Purchasing Card Administration Fund, in the State Treasury to be administered by the Auditor. The fund shall be used to pay all expenses incurred by the Auditor in the implementation and operation of the Purchasing Card Program and may be used to pay expenses related to the general operation of the Auditor’s office. The Auditor also may use the fund to pay expenses incurred by spending units associated with the use of the card, including system and program enhancements, and inspection and monitoring of compliance with all applicable rules and procedures. Expenditures from the fund shall be made in accordance with appropriations by the Legislature pursuant to the provisions of §12-3-1 et seq. of this code and upon fulfillment of the provisions of §5A-2-1 et seq. of this code.

(b) Within three days of receiving rebate moneys resulting from state spending unit purchasing card purchases, the Auditor shall transfer 10 percent of such rebate moneys to the Purchasing Improvement Fund created pursuant to §5A-3-58 of this code.

(c) Within three days of receiving rebate moneys resulting from state spending unit purchasing card purchases, the Auditor shall transfer five and one half percent of such rebate moneys to the Entrepreneurship and Innovation Investment Fund, 10 percent of such rebate moneys to the Hatfield-McCoy Regional Recreation Authority and 10 percent of such moneys to the State Park Operating Fund.