This bill addresses provisions related to school and institutional trust lands. This bill: - defines and modifies terms; - clarifies a primary beneficiary representative for a trust established in the Utah Enabling Act; - requires the director of the School and Institutional Trust Lands Administration (administration) to complete a valuation of the administration's land portfolio every five years; - requires the director to report annually to the Legislature:the activities of the administration;an approximate valuation of the administration's land portfolio;an audited financial statement of the administration; andan account of the total amount of funds distributed by the administration; - provides the circumstances under which the state shall offer for sale trust lands subject to a lease; - repeals the Land Trusts Protection and Advocacy Office; and - makes technical and conforming changes.

Statutes affected:
Introduced: 53C-1-103, 53C-1-203, 53C-1-303, 53C-4-102, 53D-1-102, 53D-1-202, 53D-1-304, 53D-1-401, 53D-1-402, 53D-1-403, 53D-1-501, 53D-1-502, 53G-7-1206, 67-4-1