Utah Statutes
§ 63A-5b-801 — Definitions.
Utah·Title 63A Utah Government Operations Code·Ch. 63A-5b Administration of State Facilities·Part 63A-5b-8 Acquisitions of Real Property Interests
As used in this part:
(1)"Agency optional term" means an option that is exclusively exercisable by a leasing agency to extend the lease term.
(2)"High-cost lease" means a real property lease that:
(2)(a) has an initial term including any agency optional term of 10 years or more; or
(2)(b) will require lease payments of more than $5,000,000 over the term of the lease, including any agency optional term.
(3)(3)(a) "Leasing agency" means a department, commission, board, council, agency, institution, officer, corporation, fund, division, office, committee, authority, laboratory, library, unit, bureau, panel, or other administrative unit of the state.
(3)(b) "Leasing agency" does not include:
(3)(b)(i) the legislative branch;
(3)(b)(ii) the judicial branch; and
(3)(b)(iii) an institution of
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Legislative History
Enacted by Chapter 152, 2020 General Session
Nearby Sections
15
§ 63A-1-101
Title.§ 63A-1-102
Purposes.§ 63A-1-103
Definitions.§ 63A-1-104
Creation of department.§ 63A-1-105.5
Rulemaking authority of executive director.§ 63A-1-109
Divisions of department -- Administration.§ 63A-1-109.5
Department authority to operate the department, a division, or an office as an internal service fund agency.§ 63A-1-112
Certificates of participation -- Legislative approval required -- Definition -- Exception.§ 63A-1-113
Agency exempt from title.§ 63A-1-114
Rate committee -- Membership -- Duties.