§ 53H-16-406 — Annual report.

Utah § 53H-16-406

• Jurisdiction: Utah
• Title 53H: Higher Education
• Ch. 53H-16: Nucleus Institute
• Part 53H-16-4: Utah Innovation Fund

Text

(1) On or before October 1 of each year, the institute shall publish an annual report of the activities conducted by the Utah innovation fund and submit, in accordance with Section 68-3-14, the written report to:
(1)(a) the governor;
(1)(b) the Economic Development and Workforce Services Interim Committee; and
(1)(c) the Executive Appropriations Committee.
(2) The annual report shall:
(2)(a) be designed to provide clear, accurate, and accessible information to the public, the governor, and the Legislature;
(2)(b) include a copy of the annual audit required under Section 53H-16-407;
(2)(c) describe the policies adopted by the institute board under Subsection 53H-16-404(1)(c);
(2)(d) include detailed information regarding:
(2)(d)(i) the name and location of each qualified business that received capital from the Utah innovation fund;
(2)(d)(ii) the amount of each qualified investment made by the Utah innovation fund;
(2)(d)(iii) the aggregate amount of capital provided to qualified businesses; and
(2)(d)(iv) realized gains from qualified investments and any realized losses;
(2)(e) include detailed information regarding the institute's yearly expenditures, including:
(2)(e)(i) administrative, operating, and financing expenses; and
(2)(e)(ii) aggregate compensation information for full-time and part-time employees, including benefit and travel expenses;
(2)(f) include detailed information regarding all funding sources for administrative, operating, and financing expenses, including any fees charged by the institute to the Utah innovation fund under Subsection 53H-16-304(3)(e); and
(2)(g) include an explanation of the Utah innovation fund's progress in achieving the purposes described in Subsection 53H-16-402(2).

Legislative History

Renumbered and Amended by Chapter 8, 2025 Special Session 1