(3) |
Prior to enacting an authorizing statute, the Legislature shall also make a finding that:
(a) |
if the independent corporation receives ongoing state funding for operations, it:
(i) |
performs a public purpose that is not performed by private entities; or |
(ii) |
acts as a trustee over money held in trust; |
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(b) |
if the independent corporation does not receive ongoing state funding for operations, it requires:
(i) |
exemption from federal or state income tax to meet its public purpose; or |
(ii) |
the interest on its indebtedness to be exempt from federal or state income tax to meet its public purpose; or |
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(c) |
the independent corporation is created by the Utah Constitution. |
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