63G-6a-117. Sale of previously purchased procurement item — Limitations.
| (1) |
As used in this section:
Terms Used In Utah Code 63G-6a-117- Person: means :Utah Code 68-3-12.5
- Procurement: means the acquisition of a procurement item through an expenditure of public funds, or an agreement to expend public funds, including an acquisition through a public-private partnership. See Utah Code 63G-6a-103
- Procurement item: means an item of personal property, a technology, a service, or a construction project. See Utah Code 63G-6a-103
| (a) |
“Buyback purchaser” means a person who buys a procurement item from the procurement unit to which the person previously sold the procurement item. |
| (b) |
“Excess repurchase amount” means the difference between:
| (i) |
the amount a buyback purchaser pays to a procurement unit to purchase a procurement item that the buyback purchaser previously sold to the procurement unit; and |
| (ii) |
the amount the procurement unit paid to the buyback purchaser to purchase the procurement item. |
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| (2) |
A procurement unit that sells a procurement item to a buyback purchaser for an amount that exceeds the amount the procurement unit paid for the procurement item:
| (a) |
shall require the buyback purchaser to pay cash for the procurement item; |
| (b) |
may not accept the excess repurchase amount in the form of a credit, discount, or other incentive on a future purchase that the procurement unit makes from the buyback purchaser; and |
| (c) |
may not use the excess repurchase amount to acquire an additional procurement item from the person who paid the excess repurchase amount. |
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Enacted by Chapter 180, 2016 General Session
Technically renumbered to avoid duplication of section number also used as new number in SB184, Chapter 355.
