(1)As used in this section:
(1)(a) "Direct financial benefit":
(1)(a)(i) means any form of financial benefit that accrues to an individual directly, including:
(1)(a)(i)(A) compensation, commission, or any other form of a payment or increase of money; and
(1)(a)(i)(B) an increase in the value of a business or property; and
(1)(a)(ii) does not include a financial benefit that accrues to the public generally.
(1)(b) "Family member" means a parent, spouse, sibling, child, or grandchild.
(2)(2)(a) An individual is subject to Subsection (2)(b) if:
(2)(a)(i) the individual owns real property, other than a personal residence in which the individual resides, within a project area, whether or not the ownership interest is a recorded interest;
(2)(a)(ii) a family member of the individual owns an i
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(1) As used in this section:
(1)(a) "Direct financial benefit":
(1)(a)(i) means any form of financial benefit that accrues to an individual directly, including:
(1)(a)(i)(A) compensation, commission, or any other form of a payment or increase of money; and
(1)(a)(i)(B) an increase in the value of a business or property; and
(1)(a)(ii) does not include a financial benefit that accrues to the public generally.
(1)(b) "Family member" means a parent, spouse, sibling, child, or grandchild.
(2) (2)(a) An individual is subject to Subsection (2)(b) if:
(2)(a)(i) the individual owns real property, other than a personal residence in which the individual resides, within a project area, whether or not the ownership interest is a recorded interest;
(2)(a)(ii) a family member of the individual owns an interest in real property, other than a personal residence in which the family member resides, located within a project area; or
(2)(a)(iii) the individual or a family member of the individual owns an interest in, is directly affiliated with, or is an employee or officer of a private firm, private company, or other private entity that the individual reasonably believes is likely to:
(2)(a)(iii)(A) participate in or receive a direct financial benefit from the development of the authority jurisdictional land; or
(2)(a)(iii)(B) acquire an interest in or locate a facility within a project area.
(2)(b) An individual described in Subsection (2)(a):
(2)(b)(i) may not serve as executive director; or
(2)(b)(ii) may not, if the individual is a board member, participate in the consideration or vote on any matter affecting the individual or family member's interest or affiliation described in Subsection (2)(a).
(3) Before taking office as a voting member of the board or accepting employment as executive director, an individual shall submit to the authority a statement verifying that the individual's service as a board member or employment as executive director does not violate Subsection (2).
(4) (4)(a) An individual may not, at any time during the individual's service as a voting member or employment with the authority, acquire, or take any action to initiate, negotiate, or otherwise arrange for the acquisition of, an interest in real property located within a project area, if:
(4)(a)(i) the acquisition is in the individual's personal capacity or in the individual's capacity as an employee or officer of a private firm, private company, or other private entity; and
(4)(a)(ii) the acquisition will enable the individual to receive a direct financial benefit as a result of the development of the project area.
(4)(b) Subsection (4)(a) does not apply to an individual's acquisition of, or action to initiate, negotiate, or otherwise arrange for the acquisition of, an interest in real property that is a personal residence in which the individual will reside upon acquisition of the real property.
(5) (5)(a) A voting member or nonvoting member of the board or an employee of the authority may not receive a direct financial benefit from the development of a project area.
(5)(b) For purposes of Subsection (5)(a), a direct financial benefit does not include:
(5)(b)(i) expense reimbursements;
(5)(b)(ii) per diem pay for board member service, if applicable; or
(5)(b)(iii) an employee's compensation or benefits from employment with the authority.
(6) In addition to any other limitation on a board member described in this section, a voting member or nonvoting member of the board shall, no sooner than January 1 and no later than January 31 of each year during which the board member holds office on the authority's board:
(6)(a) prepare a written conflict of interest disclosure statement that contains a response to each item of information described in Subsection 20A-11-1604(6); and
(6)(b) submit the written disclosure statement to the administrator or clerk of the authority's board.
(7) (7)(a) No later than 10 business days after the date on which the board member submits the written disclosure statement described in Subsection (6) to the administrator or clerk of the authority's board, the administrator or clerk shall:
(7)(a)(i) post an electronic copy of the written disclosure statement on the authority's website; and
(7)(a)(ii) provide the lieutenant governor with a link to the electronic posting described in Subsection (7)(a)(i).
(7)(b) The administrator or clerk shall ensure that the board member's written disclosure statement remains posted on the authority's website until the board member leaves office.
(8) The administrator or clerk of the authority's board shall take the action described in Subsection (9) if:
(8)(a) a board member fails to timely submit the written disclosure statement described in Subsection (6); or
(8)(b) a submitted written disclosure statement does not comply with the requirements of Subsection 20A-11-1604(6).
(9) If a circumstance described in Subsection (8) occurs, the administrator or clerk of the authority's board shall, within five days after the day on which the administrator or clerk determines that a violation occurred, notify the board member of the violation and direct the board member to submit an amended written disclosure statement correcting the problem.
(10) (10)(a) It is unlawful for a board member to fail to submit or amend a written disclosure statement within seven days after the day on which the board member receives the notice described in Subsection (9).
(10)(b) A board member who violates Subsection (10)(a) is guilty of a class B misdemeanor.
(10)(c) The administrator or clerk of the authority's board shall report a violation of Subsection (10)(a) to the attorney general.
(10)(d) In addition to the criminal penalty described in Subsection (10)(b), the administrator or clerk of the authority's board shall impose a civil fine of $100 against a board member who violates Subsection (10)(a).
(11) The administrator or clerk of the authority's board shall deposit a fine collected under this section into the authority's account to pay for the costs of administering this section.
(12) Nothing in this section may be construed to affect the application or effect of any other code provision applicable to a board member or employee relating to ethics or conflicts of interest.