HB0262S01 | School and Institutional Trust Lands Amendments

Description
General Description: 

This bill makes changes relating to the School and Institutional Trust Lands Management Act.

Highlighted Provisions: 

This bill decreases competition for Trust Lands sales thereby decreasing money that would go directly to the beneficiaries (the school children of Utah).

Bill Details
Year: 
2024
Status: 
Governor Signed
Last Action: 
Mar 12, 2024
Sponsor
Representative
Republican - District 5
Fiscal Note
Fiscal Note Amount: 
$0
None
Utah PTA Response
Utah PTA Position
Oppose
Utah PTA Resolution: 
Impact on Children: 

This bill tries to amend the provisions of selling Trust Lands by not requiring advertising of the sale of the lands, and only requiring a "fair market value" as the base requirement to sell to an entity. In order to make the most money from the Trust Lands, a competitive market is vital to produce the most money for the benefit of the beneficiaries.

Commission: 
Trust Lands
Education
Utah PTA Public Policy Program
National PTA and Utah PTA Resolutions: 

That Utah PTA encourage State and local officials to take all necessary steps to assure that management of the School Trust Lands is in accordance with trust duties and principles including undivided loyalty to the beneficiaries, a duty to make trust property productive, a duty to keep and render accounts, and a duty to exercise prudence and skill in administering the trust, thereby obtaining much-needed revenue for Utah's public schools;

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