Part 1 Budgets and Funding 53B-7-101 – 53B-7-106
Part 5 Higher Education Tuition Assistance Program 53B-7-501
Part 6 Foreign Bank Accounts for Higher Education Purposes 53B-7-601
Part 7 Performance Funding 53B-7-701 – 53B-7-709
Part 8 Higher Education Student Success Endowment 53B-7-801 – 53B-7-805

Terms Used In Utah Code > Title 53B > Chapter 7 - Finance

  • Account: means the Performance Funding Restricted Account created in Section 53B-7-703. See Utah Code 53B-7-702
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authority: means the Utah Higher Education Assistance Authority. See Utah Code 53B-7-801
  • Ballot: means the storage medium, including a paper, mechanical, or electronic storage medium, that records an individual voter's vote. See Utah Code 20A-1-102
  • Ballot proposition: means a question, issue, or proposal that is submitted to voters on the ballot for their approval or rejection including:
    (a) an opinion question specifically authorized by the Legislature;
    (b) a constitutional amendment;
    (c) an initiative;
    (d) a referendum;
    (e) a bond proposition;
    (f) a judicial retention question;
    (g) an incorporation of a city or town; or
    (h) any other ballot question specifically authorized by the Legislature. See Utah Code 20A-1-102
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • Bequest: Property gifted by will.
  • Board: means the Utah Board of Higher Education described in Section 53B-1-402. See Utah Code 53B-1-101.5
  • Certified: means that the county clerk has acknowledged a signature as being the signature of a registered voter. See Utah Code 20A-7-101
  • City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
  • Contract: A legal written agreement that becomes binding when signed.
  • County legislative body: means :Utah Code 68-3-12.5
  • degree-granting institution: means an institution of higher education described in Subsection 53B-1-102(1)(a). See Utah Code 53B-1-101.5
  • Devise: To gift property by will.
  • Election: means a regular general election, a municipal general election, a statewide special election, a local special election, a regular primary election, a municipal primary election, and a special district election. See Utah Code 20A-1-102
  • Election officer: means :
    (a) the lieutenant governor, for all statewide ballots and elections;
    (b) the county clerk for:
    (i) a county ballot and election; and
    (ii) a ballot and election as a provider election officer as provided in Section 20A-5-400. See Utah Code 20A-1-102
  • Eligible voter: means a legal voter who resides in the jurisdiction of the county, city, or town that is holding an election on a ballot proposition. See Utah Code 20A-7-101
  • Endowment: means the Higher Education Student Success Endowment created in Section 53B-7-802. See Utah Code 53B-7-801
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Estimated revenue growth from targeted jobs: means the estimated increase in individual income tax revenue generated by individuals employed in targeted jobs, determined by the Department of Workforce Services in accordance with Section 53B-7-704. See Utah Code 53B-7-702
  • Fiduciary: A trustee, executor, or administrator.
  • Full new performance funding amount: means the maximum amount of new performance funding that a degree-granting institution or technical college may qualify for in a fiscal year, determined by the Legislature in accordance with Section 53B-7-705. See Utah Code 53B-7-702
  • Full-time: means the number of credit hours the board determines is full-time enrollment for a student. See Utah Code 53B-7-702
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • GO Utah office: means the Governor's Office of Economic Opportunity created in Section 63N-1a-301. See Utah Code 53B-7-702
  • Initial fiscal impact statement: means
         a financial statement prepared under Section 20A-7-202. See Utah Code 20A-7-101
  • Initiative: means a new law proposed for adoption by the public as provided in this chapter. See Utah Code 20A-7-101
  • Initiative application: means :
    (a) for a statewide initiative, an application described in Subsection 20A-7-202(2) that includes all the information, statements, documents, and notarized signatures required under Subsection 20A-7-202(2); or
    (b) for a local initiative, an application described in Subsection 20A-7-502(2) that includes all the information, statements, documents, and notarized signatures required under Subsection 20A-7-502(2). See Utah Code 20A-7-101
  • Job: means an occupation determined by the Department of Workforce Services. See Utah Code 53B-7-702
  • Land: includes :Utah Code 68-3-12.5
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legal signatures: means the number of signatures of legal voters that:
    (a) meet the numerical requirements of this chapter; and
    (b) have been obtained, certified, and verified as provided in this chapter. See Utah Code 20A-7-101
  • Legally referable to voters: means :
    (a) for a proposed local initiative, that the proposed local initiative is legally referable to voters under Section 20A-7-502. See Utah Code 20A-7-101
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • Local clerk: means the county clerk, city recorder, or town clerk in whose jurisdiction a local initiative or referendum petition is circulated. See Utah Code 20A-7-101
  • Local law: includes :
    (i) an ordinance;
    (ii) a resolution;
    (iii) a land use law;
    (iv) a land use regulation, as defined in Section 10-9a-103; or
    (v) other legislative action of a local legislative body. See Utah Code 20A-7-101
  • Local legislative body: means the legislative body of a county, city, town, or metro township. See Utah Code 20A-7-101
  • Municipal general election: means the election held in municipalities and, as applicable, special districts on the first Tuesday after the first Monday in November of each odd-numbered year for the purposes established in Section 20A-1-202. See Utah Code 20A-1-102
  • Municipality: means a city, town, or metro township. See Utah Code 20A-1-102
  • New performance funding: means the difference between the total amount of money in the account and the amount of money appropriated from the account for performance funding in the current fiscal year. See Utah Code 53B-7-702
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Performance: means total performance across the metrics described in Sections 53B-7-706 and 53B-7-707. See Utah Code 53B-7-702
  • Person: means :Utah Code 68-3-12.5
  • Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
  • Property: includes both real and personal property. See Utah Code 68-3-12.5
  • Referendum: means a process by which a law passed by the Legislature or by a local legislative body is submitted or referred to the voters for their approval or rejection. See Utah Code 20A-7-101
  • Referendum petition: means :
    (a) as it relates to a statewide referendum, using the manual referendum process, the form described in Subsection 20A-7-303(2)(a), petitioning for submission of a law passed by the Legislature to legal voters for their approval or rejection;
    (b) as it relates to a statewide referendum, using the electronic referendum process, the form described in Subsection 20A-7-313(2), petitioning for submission of a law passed by the Legislature to legal voters for their approval or rejection;
    (c) as it relates to a local referendum, using the manual referendum process, the form described in Subsection 20A-7-603(2)(a), petitioning for submission of a local law to legal voters for their approval or rejection; or
    (d) as it relates to a local referendum, using the electronic referendum process, the form described in Subsection 20A-7-614(2), petitioning for submission of a local law to legal voters for their approval or rejection. See Utah Code 20A-7-101
  • Research university: means the University of Utah or Utah State University. See Utah Code 53B-7-702
  • Resident: means a person who resides within a specific voting precinct in Utah. See Utah Code 20A-1-102
  • Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5
  • Special local ballot proposition: means a local ballot proposition that is not a standard local ballot proposition. See Utah Code 20A-7-101
  • Sponsors: means the legal voters who support the initiative or referendum and who sign the initiative application or referendum application. See Utah Code 20A-7-101
  • Standard local ballot proposition: means a local ballot proposition for an initiative or a referendum. See Utah Code 20A-7-101
  • State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
  • Targeted job: means a job designated by the Department of Workforce Services or the GO Utah office in accordance with Section 53B-7-704. See Utah Code 53B-7-702
  • Technical college: means :
    (a) the same as that term is defined in Section 53B-1-101. See Utah Code 53B-7-702
  • Technical education: means career and technical education that:Utah Code 53B-1-101.5
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
  • Trustee: A person or institution holding and administering property in trust.
  • Verified: means acknowledged by the person circulating the petition as required in Section 20A-7-105. See Utah Code 20A-7-101
  • Voter: means an individual who:
    (a) meets the requirements for voting in an election;
    (b) meets the requirements of election registration;
    (c) is registered to vote; and
    (d) is listed in the official register book. See Utah Code 20A-1-102