Superseded 7/1/2026

258 words·~1 min read·/ut/title-53h/chapter-16/7-10

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 10/14/2025

Superseded 7/1/2026

53H-16-406. Annual report.

(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:

(a)the governor;

(b)the Economic Development and Workforce Services Interim Committee; and

(c)the Executive Appropriations Committee.

(2)The annual report shall:

(a)be designed to provide clear, accurate, and accessible information to the public, the governor, and the Legislature;

(b)include a copy of the annual audit required under Section 53H-16-407 ;

(c)describe the policies adopted by the institute board under Subsection 53H-16-404(1)(c) ;

(d)include detailed information regarding:

(i)the name and location of each qualified business that received capital from the Utah innovation fund;

(ii)the amount of each qualified investment made by the Utah innovation fund;

(iii)the aggregate amount of capital provided to qualified businesses; and

(iv)realized gains from qualified investments and any realized losses;

(e)include detailed information regarding the institute's yearly expenditures, including:

(i)administrative, operating, and financing expenses; and

(ii)aggregate compensation information for full-time and part-time employees, including benefit and travel expenses;

(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

(g)include an explanation of the Utah innovation fund's progress in achieving the purposes described in Subsection 53H-16-402(2).

Renumbered and Amended by Chapter 8 , 2025 Special Session 1