reglab/statecodes huggingface dataset:
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 1 - Center for Rural Development › Section 101 - Title -- Definitions.

Effective 7/1/2021
63N-4-101.
Title -- Definitions.
(1) This chapter is known as the "Rural Development Act."
(2) As used in this part, "program" means the Rural Development Program created in Section 63N-4-102.
Amended by Chapter 282, 2021 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 1 - Center for Rural Development › Section 102 - Rural Development Program -- Supervision by office.

Effective 7/1/2021
63N-4-102.
Rural Development Program -- Supervision by office.
(1) There is created within the office the Center for Rural Development.
(2) The Center for Rural Development is under the administration and general supervision of the office.
Amended by Chapter 282, 2021 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 1 - Center for Rural Development › Section 103 - Purpose of the Center for Rural Development.

Effective 5/4/2022
63N-4-103.
Purpose of the Center for Rural Development.
The Center for Rural Development is established to:
(1) foster and support economic development programs and activities for the benefit of rural counties and communities;
(2) foster and support community, county, and resource management planning programs and activities for the benefit of rural counties and communities;
(3) foster and support leadership training programs and activities for the benefit of:
(a) rural leaders in both the public and private sectors;
(b) economic development and planning personnel; and
(c) rural government officials;
(4) foster and support efforts to coordinate and focus the technical and other resources of appropriate institutions of higher education, local governments, private sector interests, associations, nonprofit organizations, federal agencies, and others, in ways that address the economic development, planning, and leadership challenges;
(5) work to enhance the capacity of the GO Utah office to address rural economic development, planning, and leadership training challenges and opportunities by establishing partnerships and positive working relationships with appropriate public and private sector entities, individuals, and institutions; and
(6) foster government-to-government collaboration and good working relations between state and rural government regarding economic development and planning issues.
Amended by Chapter 274, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 1 - Center for Rural Development › Section 104 - Duties.

Effective 7/1/2022
63N-4-104.
Duties.
(1) The Center for Rural Development shall:
(a) work to enhance the capacity of the office to address rural economic development, planning, and leadership training challenges and opportunities by establishing partnerships and positive working relationships with appropriate public and private sector entities, individuals, and institutions;
(b) work with the GO Utah board to coordinate and focus available resources in ways that address the economic development, planning, and leadership training challenges and priorities in rural Utah;
(c) assist in administering the Rural Opportunity Program created in Section 63N-4-802; and
(d) in accordance with economic development and planning policies set by state government, coordinate relations between:
(i) the state;
(ii) rural governments;
(iii) other public and private groups engaged in rural economic planning and development; and
(iv) federal agencies.
(2)
(a) The Center for Rural Development may:
(i) in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, make rules necessary to carry out its duties;
(ii) accept gifts, grants, devises, and property, in cash or in kind, for the benefit of rural Utah citizens; and
(iii) use those gifts, grants, devises, and property received under Subsection (2)(a)(ii) for the use and benefit of rural citizens within the state.
(b) All resources received under Subsection (2)(a)(ii) shall be deposited in the General Fund as dedicated credits to be used as directed in Subsection (2)(a)(iii).
Amended by Chapter 362, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 1 - Center for Rural Development › Section 105 - Program manager.

Effective 7/1/2021
63N-4-105.
Program manager.
(1) The executive director shall appoint a director for the Center for Rural Development with the approval of the governor.
(2) The director of the Center for Rural Development shall be a person knowledgeable in the field of rural economic development and planning and experienced in administration.
(3) Upon change of the executive director, the director of the Center for Rural Development may not be dismissed without cause for at least 180 days.
Amended by Chapter 282, 2021 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 1 - Center for Rural Development › Section 106 - Annual report.

Effective 7/1/2021
63N-4-106.
Annual report.
The office shall include in the annual written report described in Section 63N-1a-306, a report of the program's operations and recommendations.
Amended by Chapter 282, 2021 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 3 - Utah Rural Jobs Act › Section 304 - Tax credit.

Effective 5/9/2017
63N-4-304.
Tax credit.
(1) On the closing date, a claimant whose affidavit was included in an approved application submitted under Section 63N-4-303 shall earn a vested tax credit equal to the amount of the claimant's credit-eligible capital contribution to the rural investment company.
(2) In each of the taxable years that includes the fourth through seventh anniversaries of the closing date, the office shall:
(a) issue a tax credit certificate to each approved claimant, specifying a tax credit amount for the taxable year equal to 25% of the claimant's total credit-eligible capital contribution; and
(b) provide a report to the State Tax Commission listing each claimant that received a tax credit certificate under Subsection (2)(a) and the tax credit amount listed on the certificate.
(3)
(a) A claimant may not claim a tax credit under this section unless the claimant has a tax credit certificate issued by the office.
(b) A claimant claiming a credit under this section shall retain a tax credit certificate the claimant receives from the office for the same time period a person is required to keep books and records under Section 59-1-1406.
(4) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the office shall make rules describing:
(a) the documentation requirements for a business entity to receive a tax credit certificate under this section; and
(b) administration of the program, including relevant timelines and deadlines.
Enacted by Chapter 274, 2017 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 3 - Utah Rural Jobs Act › Section 306 - Request for determination.

Effective 5/9/2017
63N-4-306.
Request for determination.
(1) A rural investment company, before making a growth investment, may request from the office a written opinion as to whether the business in which a rural investment company proposes to invest is an eligible small business.
(2) The office shall notify the rural investment company of the office's determination within 30 days after receipt of the request.
(3) If the office fails to notify the rural investment company of the office's determination in accordance with this section, the business in which the rural investment company proposes to invest shall be considered an eligible small business.
Enacted by Chapter 274, 2017 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 3 - Utah Rural Jobs Act › Section 308 - Annual fee.

Effective 5/9/2017
63N-4-308.
Annual fee.
(1) The office shall calculate an annual fee to be paid by each rural investment company by dividing $50,000 by the number of rural investment companies approved under this part and notify each rural investment company of the amount of the annual fee.
(2)
(a) The initial annual fee shall be due and payable to the office along with the evidence of receipt of the cash investment in the rural investment company as described in Subsection 63N-4-303(7)(d).
(b) After the initial annual fee, an annual fee shall be due and payable to the office on or before the last day of February of each year.
(c) An annual fee shall not be required once a rural investment company has exited the program under Section 63N-4-309.
(3) To maintain an aggregate annual fee of $50,000, the office shall recalculate the annual fee as needed upon the lapse of any approval under Subsection 63N-4-303(8), the revocation of tax credit certificates under Section 63N-4-305, or a rural investment company's exit from the program under Section 63N-4-309.
(4) The annual fee collected under this section shall be deposited into the General Fund as a dedicated credit for use by the office to implement this part.
Enacted by Chapter 274, 2017 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 3 - Utah Rural Jobs Act › Section 309 - Exit.

Effective 5/4/2022
63N-4-309.
Exit.
(1)
(a) On or after the seventh anniversary of the closing date, and on or before the twelfth anniversary of the closing date, each rural investment company shall apply to the office to exit the program and no longer be subject to this part.
(b) A rural investment company that receives phase one investment authority and phase two investment authority shall separately apply to exit the program in relation to the phase one investment authority and the phase two investment authority.
(2) An application submitted under Subsection (1) shall be in a form and in accordance with procedures prescribed by the office and shall include a calculation of the state reimbursement amount.
(3) In evaluating the exit application, if no tax credit certificates have been revoked and the rural investment company has not received a notice of revocation that has remained uncorrected under Subsection 63N-4-305(3)(b), the rural investment company is eligible for exit.
(4)
(a) The office shall respond to the application within 30 days of receipt and include confirmation of the state reimbursement amount.
(b) The office shall not unreasonably deny an application submitted under this section.
(c) If the office denies the application, the office shall provide the reasons for the determination to the rural investment company.
(5) If a rural investment company fails to submit an exit application in accordance with Subsection (1), the office shall:
(a) calculate the state reimbursement amount using the best available information; and
(b) provide the confirmation described in Subsection (4)(a) within 30 days of the twelfth anniversary of the closing date.
(6) Within 60 days after the day on which the confirmation of the state reimbursement amount is received by the rural investment company, the rural investment company shall make a cash distribution to the state in an amount equal to the lesser of:
(a) the state reimbursement amount; and
(b) the excess return.
(7) The office shall notify the rural investment company once payments equal to the amount described in Subsection (4) have been received.
(8) Any amounts collected under this section shall be deposited into the General Fund.
Amended by Chapter 195, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 4 - Rural Employment Expansion Program › Section 401 - Title.

Affected by 63I-1-263 on 7/1/2028
Effective 5/8/2018
63N-4-401.
Title.
This part is known as the "Rural Employment Expansion Program."
Enacted by Chapter 340, 2018 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 4 - Rural Employment Expansion Program › Section 402 - Definitions.

Affected by 63I-1-263 on 7/1/2028
Effective 7/1/2022
63N-4-402.
Definitions.
As used in this part:
(1)
(a) "Business entity" means a sole proprietorship, partnership, association, joint venture, corporation, firm, trust, foundation, or other organization or entity used in carrying on a business.
(b) "Business entity" does not include a business primarily engaged in the following:
(i) construction;
(ii) staffing;
(iii) retail trade; or
(iv) public utility activities.
(2) "Grant" means a grant awarded as part of the Rural Employment Expansion Grant Program created in Section 63N-4-403.
(3) "Grant program" means the Rural Employment Expansion Grant Program created in Section 63N-4-403.
(4) "Mining company" means an entity whose primary business is the exploration for or extraction of minerals from the earth.
(5) "Mining services company" means an entity whose primary business is providing support services for a mining company, including drilling or geological modeling.
(6)
(a) "Owner or officer" means an individual who owns an ownership interest in an entity or holds a position where the person has authority to manage, direct, control, or make decisions for:
(i) the entity or a portion of the entity; or
(ii) an employee, agent, or independent contractor of the entity.
(b) "Owner or officer" includes:
(i) a member of a board of directors or other governing body of an entity; or
(ii) a partner in any type of partnership.
(7) "Rural county" means a county of the third, fourth, fifth, or sixth class.
Amended by Chapter 362, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 4 - Rural Employment Expansion Program › Section 403 - Creation of Rural Employment Expansion Grant Program -- Duties of the office.

Affected by 63I-1-263 on 7/1/2028
Effective 7/1/2022
63N-4-403.
Creation of Rural Employment Expansion Grant Program -- Duties of the office.
(1) There is created the Rural Employment Expansion Grant Program administered by the office.
(2) The office shall:
(a) review a business entity's application for a grant in the order in which the application is received by the office;
(b) ensure that a grant is only awarded to a business entity that meets the requirements of this part; and
(c) as part of the annual written report described in Section 63N-1a-306, prepare an annual evaluation that provides:
(i) the identity of each business entity that was provided a grant by the office during the year of the annual report;
(ii) the total amount awarded in grants for each county; and
(iii) an evaluation of the effectiveness of the grant in bringing significant new employment to rural communities.
(3) The office may:
(a) authorize a grant for a business entity under this part;
(b) audit a business entity to ensure:
(i) eligibility for a grant; and
(ii) compliance with this part; and
(c) in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, and in accordance with the provisions of this part, make rules regarding the:
(i) form and content of an application for a grant;
(ii) documentation or other requirements for a business entity to receive a grant; and
(iii) administration of grants, including an appeal process and relevant timelines and deadlines.
Amended by Chapter 362, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 5 - Rural Coworking and Innovation Center Grant Program › Section 501 - Title.

Effective 5/14/2019
63N-4-501.
Title.
This part is known as the "Rural Coworking and Innovation Center Grant Program."
Enacted by Chapter 467, 2019 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 5 - Rural Coworking and Innovation Center Grant Program › Section 502 - Definitions.

Effective 5/4/2022
63N-4-502.
Definitions.
As used in this part:
(1) "Advisory committee" means the Rural Online Working Hubs Grant Advisory Committee created in Section 63N-4-505.
(2) "Coworking and innovation center" means a facility designed to provide individuals with the infrastructure and equipment to participate in the online workforce.
(3) "Entity" means a county, city, nonprofit organization, or institution of higher education.
(4) "Grant" means a grant awarded as part of the Rural Coworking and Innovation Center Grant Program created in Section 63N-4-503.
(5) "Grant program" means the Rural Coworking and Innovation Center Grant Program created in Section 63N-4-503.
(6) "Rural area" means any area in any county in the state except Salt Lake, Utah, Davis, Weber, Washington, Cache, Tooele, and Summit counties.
Amended by Chapter 129, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 5 - Rural Coworking and Innovation Center Grant Program › Section 503 - Creation and purpose of the Rural Coworking and Innovation Center Grant Program.

Effective 5/14/2019
63N-4-503.
Creation and purpose of the Rural Coworking and Innovation Center Grant Program.
(1) There is created the Rural Coworking and Innovation Center Grant Program administered by the office.
(2) The office may seek to accomplish the following objectives in administering the grant program:
(a) constructing or renovating a facility in one or more rural areas to create one or more coworking and innovation centers;
(b) extending and improving utilities and broadband service connections to one or more coworking and innovation centers in one or more rural areas; and
(c) purchasing equipment, furniture, and security systems as part of one or more coworking and innovation centers in one or more rural areas.
Enacted by Chapter 467, 2019 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 5 - Rural Coworking and Innovation Center Grant Program › Section 504 - Requirements for awarding a working hubs grant.

Effective 5/14/2019
63N-4-504.
Requirements for awarding a working hubs grant.
(1) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the office shall make rules establishing the eligibility and reporting criteria for an entity to receive a grant under this part, including:
(a) the form and process of submitting an application to the office for a grant;
(b) which entities are eligible to apply for a grant;
(c) the method and formula for determining grant amounts; and
(d) the reporting requirements of grant recipients.
(2) In determining the award of a grant, the office may prioritize projects:
(a) that will serve underprivileged or underserved communities, including communities with high unemployment or low median incomes;
(b) where an applicant demonstrates comprehensive planning of the project but has limited access to financial resources, including financial resources from local or county government; and
(c) that maximize economic development opportunities in collaboration with the economic development needs or plans of an educational institution, a county, and a municipality.
(3) Subject to legislative appropriation, a grant may only be awarded by the executive director after consultation with the advisory committee.
(4) A grant may only be awarded under this part:
(a) if the grant recipient agrees to provide any combination of funds, land, buildings, or in-kind work in an amount equal to at least 25% of the grant;
(b) if the grant recipient agrees not to use grant money for the ongoing operation or maintenance of a coworking and innovation center; and
(c) in an amount no more than $500,000 to a grant applicant.
Enacted by Chapter 467, 2019 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 5 - Rural Coworking and Innovation Center Grant Program › Section 505 - Rural Online Working Hubs Grant Advisory Committee -- Membership -- Duties -- Expenses.

Effective 5/14/2019
63N-4-505.
Rural Online Working Hubs Grant Advisory Committee -- Membership -- Duties -- Expenses.
(1) There is created in the office the Rural Online Working Hubs Grant Advisory Committee, composed of the following seven members:
(a) the executive director, or the executive director's designee;
(b) a member of the Senate, or a member of the House of Representatives, who represents rural constituents, chosen by the president of the Senate;
(c) one member representing municipal government in a rural county, recommended by the Utah League of Cities and Towns and appointed by the executive director;
(d) one member representing rural county government, recommended by the Utah Association of Counties and appointed by the executive director;
(e) one member representing higher education, appointed by the executive director;
(f) one member representing the information technology sector, recommended by the Utah Technology Council and appointed by the executive director; and
(g) one member representing the commercial real estate development community, recommended by the Utah chapter of the Commercial Real Estate Development Association and appointed by the executive director.
(2) The advisory committee shall advise and make recommendations to the office regarding awarding grants under this part.
(3)
(a) Except as required by Subsection (3)(b), as terms of advisory committee members appointed by the executive director expire, the executive director shall appoint each new member or reappointed member to a four-year term.
(b) Notwithstanding the requirements of Subsection (3)(a), the executive director shall, at the time of appointment or reappointment, adjust the length of terms to ensure that the terms of advisory committee members appointed by the executive director are staggered so that approximately half of the appointed advisory committee members are appointed every two years.
(4) The executive director, or the director's designee, shall serve as chair of the advisory committee.
(5) The advisory committee shall elect annually a vice chair from the advisory committee's members.
(6) When a vacancy occurs in the membership for any reason, the executive director shall appoint the replacement for the unexpired term.
(7) A majority of the advisory committee constitutes a quorum for the purpose of conducting advisory committee business and the action of a majority of a quorum constitutes the action of the advisory committee.
(8) The office shall provide administrative staff support for the advisory committee.
(9) A member may not receive compensation or benefits for the member's service, but a member, who is not a legislator, may receive per diem and travel expenses in accordance with:
(a) Section 63A-3-106;
(b) Section 63A-3-107; and
(c) rules made by the Division of Finance pursuant to Sections 63A-3-106 and 63A-3-107.
Enacted by Chapter 467, 2019 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 8 - Rural Opportunity Act › Section 801 - Definitions.

Effective 5/3/2023
63N-4-801.
Definitions.
As used in this part:
(1) "Advisory committee" means the Rural Opportunity Advisory Committee created in Section 63N-4-804.
(2) "Association of governments" means an association of political subdivisions of the state, established pursuant to an interlocal agreement under Title 11, Chapter 13, Interlocal Cooperation Act.
(3)
(a) "Business entity" means a sole proprietorship, partnership, association, joint venture, corporation, firm, trust, foundation, or other organization or entity used in carrying on a business.
(b) "Business entity" does not include a business primarily engaged in the following:
(i) construction;
(ii) staffing;
(iii) retail trade; or
(iv) public utility activities.
(4) "CEO board" means a County Economic Opportunity Advisory Board as described in Section 63N-4-803.
(5) "Fund" means the Rural Opportunity Fund created in Section 63N-4-805.
(6) "Qualified asset" means a physical asset that provides or supports an essential public service.
(7) " Qualified project" means a project to build or improve one or more qualified assets for a rural community, including:
(a) telecom and high-speed Internet infrastructure;
(b) power and energy infrastructure;
(c) water and sewerage infrastructure;
(d) healthcare infrastructure; or
(e) other infrastructure as defined by rule made by the office in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.
(8) "Rural community" means a rural county or rural municipality.
(9) "Rural county" means a county of the third, fourth, fifth, or sixth class.
(10) "Rural municipality" means a city, town, or metro township located within the boundaries of:
(a) a county of the third, fourth, fifth, or sixth class; or
(b) a county of the second class, if the municipality has a population of 10,000 or less.
(11) "Rural Opportunity Program" or "program" means the Rural Opportunity Program created in Section 63N-4-802.
Amended by Chapter 499, 2023 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 8 - Rural Opportunity Act › Section 803 - County Economic Opportunity Advisory Board.

Effective 7/1/2022
63N-4-803.
County Economic Opportunity Advisory Board.
(1)
(a) Each rural county that seeks to obtain a grant from the office under Subsection 63N-4-802(4)(a), shall create a CEO board composed of at least the following members appointed by the county legislative body:
(i) a county representative;
(ii) a representative of a municipality in the county;
(iii) a workforce development representative;
(iv) a private-sector representative; and
(v) a member of the public who lives in the county.
(b) The county legislative body may also appoint additional members with experience or expertise in economic development matters.
(c) In appointing members of the CEO board, the county legislative body may consider gender and socioeconomic diversity.
(2) Each CEO board shall assist and advise the county legislative body on:
(a) applying for a grant under Subsection 63N-4-802(4)(a);
(b) what projects should be funded by grant money provided to a rural county under Subsection 63N-4-802(4)(a); and
(c) preparing reporting requirements for grant money received by a rural county under Subsection 63N-4-802(4)(a).
Renumbered and Amended by Chapter 362, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 8 - Rural Opportunity Act › Section 804 - Rural Opportunity Advisory Committee.

Effective 7/1/2022
63N-4-804.
Rural Opportunity Advisory Committee.
(1) There is created within the office the Rural Opportunity Advisory Committee.
(2) The advisory committee shall be composed of seven members appointed by the executive director, at least five of whom shall reside in a rural county.
(3) The advisory committee shall advise and make recommendations to the office regarding the awarding of grants and loans under the Rural Opportunity Program.
(4)
(a) Subject to Subsection (4)(b), each member of the advisory committee shall be appointed for a four-year term unless a member is appointed to complete an unexpired term.
(b) The executive director may adjust the length of term at the time of appointment or reappointment so that approximately half of the advisory committee is appointed every two years.
(5) The advisory committee shall annually elect a chair from among the advisory committee's members.
(6) A majority of the advisory committee constitutes a quorum for the purpose of conducting advisory committee business and the action of a majority of a quorum constitutes the action of the advisory committee.
(7) The office shall provide staff support for the advisory committee.
(8) A member may not receive compensation or benefits for the member's service, but may receive per diem and travel expenses in accordance with:
(a) Section 63A-3-106;
(b) Section 63A-3-107; and
(c) rules made by the Division of Finance pursuant to Sections 63A-3-106 and 63A-3-107.
Enacted by Chapter 362, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 4 - Rural Development Act › Part 8 - Rural Opportunity Act › Section 805 - Rural Opportunity Fund.

Affected by 63I-1-263 on 7/1/2028
Effective 7/1/2022
63N-4-805.
Rural Opportunity Fund.
(1) There is created an enterprise fund known as the "Rural Opportunity Fund".
(2) The fund shall be administered by the office for the purposes described in Subsection (5).
(3) The fund consists of:
(a) money appropriated by the Legislature;
(b) donations or grants from public or private entities; and
(c) all money collected from the repayment of fund money used for a loan issued under the Rural Opportunity Program.
(4)
(a) The fund shall earn interest.
(b) All interest earned on money in the fund shall be deposited into the fund.
(5) Money in the fund may only be used by the office to:
(a) award grants and loans under the Rural Opportunity Program;
(b) award grants under the Rural Employment Expansion Program created in Section 63N-4-403;
(c) award grants under the Rural Coworking and Innovation Center Grant Program created in Section 63N-4-503; and
(d) pay for administrative costs related to this chapter.
(6) The office may establish separate accounts in the fund for separate programs, administrative and operating expenses, or any other purpose to implement this chapter.
(7) Money in the fund shall be invested by the state treasurer as provided in Title 51, Chapter 7, State Money Management Act, and the earnings from the investments shall be credited to the fund.
(8) The office shall include a report of how money from the fund was used in the annual written report described in Section 63N-1a-306.
Enacted by Chapter 362, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 6 - Utah Venture Capital Enhancement Act › Part 1 - General Provisions › Section 103 - Definitions.

Effective 5/3/2023
63N-6-103.
Definitions.
As used in this chapter:
(1) "Board" means the board of directors of the corporation.
(2) "Corporation" means the Utah Capital Investment Corporation created under Section 63N-6-301.
(3) "Restricted account" means the Utah Capital Investment Restricted Account created in Section 63N-6-204.
(4) "Utah fund of funds" means a limited liability company established under Section 63N-6-401.
Amended by Chapter 139, 2023 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 6 - Utah Venture Capital Enhancement Act › Part 2 - Utah Capital Investment Restricted Account › Section 204 - Utah Capital Investment Restricted Account.

Effective 7/1/2022
63N-6-204.
Utah Capital Investment Restricted Account.
(1) There is created a restricted account within the General Fund known as the Utah Capital Investment Restricted Account.
(2) The restricted account shall be funded by disbursements from the Utah fund of funds or the corporation.
(3) The state treasurer shall:
(a) administer the account;
(b) invest money in the restricted account in accordance with Title 51, Chapter 7, State Money Management Act; and
(c) deposit interest or other earnings derived from investment of restricted account money into the restricted account.
(4) The Legislature may appropriate funds from the restricted account to the General Fund or for any other lawful purpose.
Amended by Chapter 298, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 6 - Utah Venture Capital Enhancement Act › Part 3 - Utah Capital Investment Corporation › Section 303 - Board of directors.

Effective 7/1/2022
63N-6-303.
Board of directors.
(1) The corporation's board of directors comprises the state treasurer and two individuals designated by the state treasurer.
(2) Two members of the board are a quorum for the transaction of business.
(3) Members of the board of directors:
(a) are subject to any restrictions on conflicts of interest specified in the organizational documents of the corporation; and
(b) may not participate in a vote by the board of directors related to an investment by the Utah fund of funds, if the member has an interest in the investment.
(4) Directors of the corporation:
(a) shall be compensated for direct expenses and mileage; and
(b) may not receive a director's fee or salary for service as directors.
Amended by Chapter 298, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 6 - Utah Venture Capital Enhancement Act › Part 3 - Utah Capital Investment Corporation › Section 305 - Management fee -- Additional financial assistance.

Effective 7/1/2022
63N-6-305.
Management fee -- Additional financial assistance.
(1) The corporation may charge a management fee on assets under management in the Utah fund of funds.
(2) The management fee described in Subsection (1) may not, in a calendar year, exceed 1% of the asset value of the Utah fund of funds on the immediately preceding December 31.
(3) In addition to the management fee, the Utah fund of funds will pay directly or reimburse the corporation for out-of-pocket expenses, including fund administration, tax and audit fees and costs, investment and monitoring costs, and similar expenses incurred in connection with the operation of the corporation or the Utah fund of funds.
Amended by Chapter 298, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 6 - Utah Venture Capital Enhancement Act › Part 4 - Utah Fund of Funds › Section 401 - Organization of Utah fund of funds.

Effective 5/4/2022
63N-6-401.
Organization of Utah fund of funds.
(1) The corporation shall organize, and be the sole member and manager of, the Utah fund of funds.
(2) The Utah fund of funds shall hold and manage investments made by the Utah fund of funds and proceeds from those investments until disbursed to the restricted account or used to pay the fees and expenses described in this chapter.
(3) The Utah fund of funds shall be organized as a limited liability company, with the corporation as the sole member and manager.
(4) The Utah fund of funds may not invest money after May 4, 2022, unless the Utah fund of funds committed to the investment before May 4, 2022.
(5) The corporation may disburse proceeds of investments from the Utah fund of funds into the restricted account at any time the corporation determines is in the best interest of the state, leaving sufficient funds to pay expenses and fees owed by, or needed to wind up the affairs of, the corporation or the Utah fund of funds.
(6) The state treasurer shall notify the Executive Appropriations Committee when all investments held by the Utah fund of funds mature and the state treasurer determines it is advisable to complete winding up the affairs of the corporation.
Amended by Chapter 298, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 6 - Utah Venture Capital Enhancement Act › Part 4 - Utah Fund of Funds › Section 402 - Compensation from the Utah fund of funds to the corporation -- Transfer to restricted account.

Effective 5/4/2022
63N-6-402.
Compensation from the Utah fund of funds to the corporation -- Transfer to restricted account.
(1) The corporation shall be compensated for its involvement in the Utah fund of funds through the payment of the management fee described in Section 63N-6-305.
(2)
(a) On or before June 30, 2022, the Utah fund of funds shall transfer $15,000,000 to the state treasurer.
(b) The state treasurer shall deposit the money described in Subsection (2)(a) into the restricted account.
Amended by Chapter 298, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 6 - Utah Venture Capital Enhancement Act › Part 4 - Utah Fund of Funds › Section 404 - Powers of Utah fund of funds.

Effective 7/1/2022
63N-6-404.
Powers of Utah fund of funds.
The Utah fund of funds may:
(1) engage consultants and legal counsel;
(2) expend funds;
(3) enter into contracts; and
(4) perform any other act necessary to carry out its purposes.
Amended by Chapter 298, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 6 - Utah Venture Capital Enhancement Act › Part 4 - Utah Fund of Funds › Section 405 - Annual audits.

Effective 7/1/2022
63N-6-405.
Annual audits.
(1) Each calendar year, an audit of the activities of the Utah fund of funds shall be made as described in this section.
(2)
(a) The audit shall be conducted by:
(i) the state auditor; or
(ii) an independent auditor engaged by the state auditor.
(b) An independent auditor used under Subsection (2)(a)(ii) must have no business, contractual, or other connection to:
(i) the corporation; or
(ii) the Utah fund of funds.
(3) The corporation shall pay the costs associated with the annual audit.
(4) The annual audit report shall:
(a) be delivered to:
(i) the corporation; and
(ii) the state treasurer;
(b) include a valuation of the assets owned by the Utah fund of funds as of the end of the reporting year;
(c) include an opinion regarding the accuracy of the information provided in the annual report described in Subsection 63N-6-301(6); and
(d) be completed on or before September 1 for the previous calendar year so that it may be included in the annual report described in Subsection 63N-6-301(6).
Amended by Chapter 298, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 6 - Utah Venture Capital Enhancement Act › Part 4 - Utah Fund of Funds › Section 410 - Powers and effectiveness.

Effective 7/1/2022
63N-6-410.
Powers and effectiveness.
(1) This chapter may not be construed as a restriction or limitation upon any power which the board might otherwise have under any other law of this state and the provisions of this chapter are cumulative to those powers.
(2) This chapter shall be construed to provide a complete, additional, and alternative method for performing the duties authorized and shall be regarded as supplemental and additional powers to those conferred by any other laws.
Amended by Chapter 298, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 6 - Utah Venture Capital Enhancement Act › Part 4 - Utah Fund of Funds › Section 412 - Exemption from certain statutes.

Effective 5/12/2015
63N-6-412.
Exemption from certain statutes.
(1) Except as otherwise provided in this part, the corporation is exempt from statutes governing state agencies, as provided in Section 63E-2-109.
(2) The corporation is exempt from:
(a)Title 52, Chapter 4, Open and Public Meetings Act; and
(b)Title 63G, Chapter 2, Government Records Access and Management Act.
(3) The board is exempt from the requirement to report fund performance of venture firms and private equity firms set forth in Title 63G, Chapter 2, Government Records Access and Management Act.
Renumbered and Amended by Chapter 283, 2015 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 7 - Utah Office of Tourism › Part 1 - General Provisions › Section 101 - Definitions.

Affected by 63I-1-263 on 7/1/2025
Effective 7/1/2022
63N-7-101.
Definitions.
As used in this chapter:
(1) "Board" means the Board of Tourism Development created in Section 63N-7-201.
(2) "Managing director" means the managing director of the Utah Office of Tourism.
(3) "Sports organization" means an organization that:
(a) is exempt from federal income taxation in accordance with Section 501(c)(3), Internal Revenue Code;
(b) maintains the organization's principal location in the state;
(c) has a minimum of 15 years experience in the state hosting, fostering, and attracting major summer and winter sporting events statewide; and
(d) was created to foster state, regional, national, and international sports competitions in the state, to drive the state's Olympic and sports legacy, including competitions related to Olympic sports, and to promote and encourage sports tourism throughout the state, including advertising, marketing, branding, and promoting the state for the purpose of attracting sporting events in the state.
(4) "Tourism office" means the Utah Office of Tourism created in Section 63N-7-102.
Repealed and Re-enacted by Chapter 362, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 7 - Utah Office of Tourism › Part 1 - General Provisions › Section 102 - Utah Office of Tourism created -- Appointment of managing director -- Responsibilities of tourism office.

Affected by 63I-1-263 on 7/1/2025
Effective 7/1/2022
63N-7-102.
Utah Office of Tourism created -- Appointment of managing director -- Responsibilities of tourism office.
(1) There is created within the GO Utah office the Utah Office of Tourism.
(2)
(a) The executive director shall appoint a managing director of the tourism office.
(b) The managing director may, with the approval of the executive director, appoint staff.
(3) The tourism office shall:
(a) be the tourism development authority of the state;
(b) develop a tourism advertising, marketing, branding, destination development, and destination management program for the state;
(c) receive approval from the board under Subsection 63N-7-202(1)(a) before implementing the program described in Subsection (3)(b);
(d) develop a plan to increase the economic contribution by tourists visiting the state;
(e) plan and conduct a program of information, advertising, and publicity relating to the recreational, scenic, historic, cultural, and culinary tourist attractions, amenities, and advantages of the state at large;
(f) encourage and assist in the coordination of the activities of persons, firms, associations, corporations, travel regions, counties, and governmental agencies engaged in publicizing, developing, and promoting the tourist attractions, amenities, and advantages of the state;
(g) conduct a regular and ongoing research program to identify statewide economic trends and conditions in the tourism sector of the economy; and
(h) ensure that any plan or program developed under this Subsection (3) addresses, but not be limited to, the following policies:
(i) enhancing the state's image;
(ii) promoting the state as a year-round destination;
(iii) encouraging expenditures by visitors to the state; and
(iv) expanding the markets where the state is promoted.
Repealed and Re-enacted by Chapter 362, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 7 - Utah Office of Tourism › Part 1 - General Provisions › Section 103 - Annual report.

Effective 7/1/2022
63N-7-103.
Annual report.
The executive director shall include, in the annual written report described in Section 63N-1a-306, a report from the managing director on the activities of the tourism office, including information regarding the economic efficiency and results of the tourism advertising, marketing, branding, destination development, and destination management program developed under Section 63N-7-102.
Repealed and Re-enacted by Chapter 362, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 7 - Utah Office of Tourism › Part 1 - General Provisions › Section 104 - Agreements with other governmental entities.

Effective 7/1/2022
63N-7-104.
Agreements with other governmental entities.
The tourism office may enter into agreements with state or federal agencies to accept services, quarters, or facilities as a contribution in carrying out the duties and functions of the tourism office.
Enacted by Chapter 362, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 7 - Utah Office of Tourism › Part 2 - Board of Tourism Development › Section 202 - Board duties.

Affected by 63I-1-263 on 7/1/2025
Effective 7/1/2022
63N-7-202.
Board duties.
(1) The board shall:
(a) approve a tourism program of out-of-state advertising, marketing, and branding, taking into account the long-term strategic plan, economic trends, and opportunities for tourism development on a statewide basis, as a condition of the distribution of funds to the tourism office from:
(i) the Tourism Marketing Performance Account created in Section 63N-7-301; and
(ii) the Stay Another Day and Bounce Back Account created in Section 63N-2-511;
(b) review tourism office programs to coordinate and integrate advertising and branding themes, which may include recreational, scenic, historic, cultural, and culinary tourist attractions, amenities, and advantages of the state, to be used in tourism office programs;
(c) encourage and assist in coordinating activities of persons, firms, associations, corporations, civic groups, and governmental agencies that are engaged in publicizing, developing, and promoting the tourist attractions, amenities, and advantages of the state;
(d) advise the tourism office in establishing a cooperative program using funds from the Tourism Marketing Performance Account created in Section 63N-7-301; and
(e) advise the tourism office on the tourism office's planning, policies, and strategies and on trends and opportunities for tourism development that may exist in the various areas of the state.
(2) The board may:
(a) solicit and accept contributions of money, services, and facilities from any other sources, whether public or private, and shall use these funds for promoting the general interest of the state in tourism; and
(b) establish subcommittees for the purpose of assisting the board in an advisory role.
(3) The board may not, except as otherwise provided under Subsection (1)(a), make policy related to the management or operation of the tourism office.
Repealed and Re-enacted by Chapter 362, 2022 General Session
2023 Utah Code › Title 63N - Economic Opportunity Act › Chapter 7 - Utah Office of Tourism › Part 3 - Tourism Marketing Performance Account › Section 301 - Tourism Marketing Performance Account.

Effective 1/1/2025
63N-7-301.
Tourism Marketing Performance Account.
(1) There is created within the General Fund a restricted account known as the Tourism Marketing Performance Account.
(2) The account shall be administered by the tourism office for the purposes listed in Subsections (6) and (7).
(3)
(a) The account shall earn interest.
(b) All interest earned on account money shall be deposited into the account.
(4) The account shall be funded by appropriations made to the account by the Legislature in accordance with this section.
(5) The managing director shall use account money appropriated to the tourism office to pay for the statewide advertising, marketing, and branding campaign for promotion of the state as conducted by the tourism office.
(6)
(a) For each fiscal year, the tourism office shall annually allocate 10% of the account money appropriated to the tourism office to a sports organization for advertising, marketing, branding, and promoting Utah in attracting sporting events into the state.
(b) The sports organization shall:
(i) provide an annual written report to the tourism office that gives an accounting of the use of funds the sports organization receives under this Subsection (6); and
(ii) promote the state and encourage economic growth in the state.
(7)
(a) For each fiscal year, the tourism office shall allocate 20% of the funds appropriated to the Tourism Marketing and Performance Account to the cooperative program described in this Subsection (7).
(b) Money allocated to the cooperative program may be awarded to cities, counties, nonprofit destination marketing organizations, and similar public entities for the purpose of supplementing money committed by these entities for advertising and promoting sites and events in the state.
(c) The tourism office shall establish:
(i) an application and approval process for an entity to receive a cooperative program award, including an application deadline;
(ii) the criteria for awarding a cooperative program award, which shall emphasize attracting out-of-state visitors, and may include attracting in-state visitors, to sites and events in the state; and
(iii) eligibility, advertising, timing, and reporting requirements of an entity that receives a cooperative program award.
(d) Money allocated to the cooperative program that is not used in each fiscal year shall be returned to the Tourism Marketing Performance Account.
Amended by Chapter 459, 2023 General Session