Except for purposes of an audit, examination, investigation, or review by the legislative auditor general as described in Subsection (8) and notwithstanding any other provision of law:
Terms Used In Utah Code 11-13-603
Asset: means funds, money, an account, real or personal property, or personnel. See Utah Code 11-13-602
Board: means the Permanent Community Impact Fund Board created by Section 35A-8-304, and its successors. See Utah Code 11-13-103
Energy services interlocal entity: means an interlocal entity that is described in Subsection 11-13-203(4). See Utah Code 11-13-103
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Governing board: includes a board of directors described in an agreement, as amended, that creates a project entity. See Utah Code 11-13-103
the same as that term is defined in Section 11-13-103; or
(b)
facilities, improvements, or contracts undertaken by a taxed interlocal entity in accordance with Subsection 11-13-204(2). See Utah Code 11-13-602
Project entity: means a Utah interlocal entity or an electric interlocal entity that owns a project as defined in this section. See Utah Code 11-13-103
is not exempt from a tax or fee in lieu of taxes imposed in accordance with 3;
(ii)
does not receive a payment of funds from a federal agency or office, state agency or office, political subdivision, or other public agency or office other than:
(A)
a payment that does not materially exceed the greater of the fair market value and the cost of a service provided or property conveyed by the project entity; or
(B)
a grant that is subject to accountability requirements and that the project entity receives for purposes related to a Utah interlocal energy hub, including research and development of technology, financing, construction, installation, operation, and other actions that the project entity may take with respect to a project; and
(iii)
does not receive, expend, or have the authority to compel payment from tax revenue; or
(b)
an interlocal entity that:
(i)
was created before 1981 for the purpose of providing power supply at wholesale to its members;
(ii)
does not receive a payment of funds from a federal agency or office, state agency or office, political subdivision, or other public agency or office other than:
(A)
a payment that does not materially exceed the greater of the fair market value and the cost of a service provided or property conveyed by the interlocal entity; or
(B)
a loan, grant, guaranty, transferable tax credit, cost-sharing arrangement, or other funding arrangement for an advanced nuclear power facility, as defined in 26 U. See Utah Code 11-13-602
Use: includes , when constituting a noun, the corresponding nominal form of each term in Subsection (14)(a), individually. See Utah Code 11-13-602
(a)
the use of an asset by a taxed interlocal entity does not constitute the use of a public asset;
(b)
a taxed interlocal entity’s use of an asset that was a public asset before the taxed interlocal entity’s use of the asset does not constitute a taxed interlocal entity’s use of a public asset;
(c)
an official of a project entity is not a public treasurer; and
(d)
a taxed interlocal entity’s governing board shall determine and direct the use of an asset by the taxed interlocal entity.
A taxed interlocal entity is not a participating local entity as defined in Section 67-3-12.
(b)
For each fiscal year of a taxed interlocal entity, the taxed interlocal entity shall provide:
(i)
the taxed interlocal entity’s financial statements for and as of the end of the fiscal year and the prior fiscal year, including:
(A)
the taxed interlocal entity’s statement of net position as of the end of the fiscal year and the prior fiscal year, and the related statements of revenues and expenses and of cash flows for the fiscal year; or
(B)
financial statements that are equivalent to the financial statements described in Subsection (3)(b)(i)(A) and, at the time the financial statements were created, were in compliance with generally accepted accounting principles that are applicable to taxed interlocal entities; and
(ii)
the accompanying auditor’s report and management’s discussion and analysis with respect to the taxed interlocal entity’s financial statements for and as of the end of the fiscal year.
(c)
The taxed interlocal entity shall provide the information described in Subsection (3)(b) within a reasonable time after the taxed interlocal entity’s independent auditor delivers to the taxed interlocal entity’s governing board the auditor’s report with respect to the financial statements for and as of the end of the fiscal year.
(d)
Notwithstanding Subsections (3)(b) and (c) or a taxed interlocal entity’s compliance with one or more of the requirements of Title 63A, Chapter 3, Division of Finance:
In addition to having the powers described in Subsection 11-13-204(1)(a)(ii), a taxed interlocal entity may, for the regulation of the entity’s affairs and conduct of its business, adopt, amend, or repeal bylaws, policies, or procedures.
(b)
Nothing in 4, or 5, may be construed to limit the power or authority of a taxed interlocal entity.
(7)
(a)
A governmental law enacted after May 12, 2015, and on or before November 10, 2021, is not applicable to, is not binding upon, and does not have effect on a taxed interlocal entity that is a project entity unless the governmental law expressly states the section of governmental law to be applicable to and binding upon the taxed interlocal entity with the following words: “[Applicable section or subsection number] constitutes an exception to Subsection 11-13-603(7)(a) and is applicable to and binding upon a taxed interlocal entity.”
(b)
A governmental law enacted after May 12, 2015, is not applicable to, is not binding upon, and does not have effect on a taxed interlocal entity that is an energy services interlocal entity unless the governmental law expressly states the section of governmental law to be applicable to and binding upon the energy services interlocal entity with the following words: “[Applicable section or subsection number] constitutes an exception to Subsection 11-13-603(7)(a) and is applicable to and binding upon an energy services interlocal entity.”
(c)
Sections 11-13-601 through 11-13-608 constitute an exception to Subsections (7)(a) and (7)(b) and are applicable to and binding upon a taxed interlocal entity.
(8)
Notwithstanding any other provision of law, a taxed interlocal entity that is a project entity is a political subdivision that is subject to the authority of the legislative auditor general pursuant to Utah Constitution, Article VI, Section 33, and Section 36-12-15.
