Rep. Norm Thurston — Voting Record

Bill

Number

H.B. 494 (2024GS)

Sponsor

Rep. Moss, J.

Final action

Governor Signed 3/19/2024

Outcome

Became law — signed by Gov. Spencer J. Cox

Summary

What it does

• This bill:
• provides that a public body that administers certain funds may hold a closed meeting to discuss certain matters; and
• excludes certain information from the Government Records Access and Management Act.

Every vote on this bill

Bill text

FUNDS ADMINISTRATION MODIFICATIONS
GENERAL SESSION
STATE OF UTAH
Chief Sponsor: Jefferson Moss
Senate Sponsor: 
 Chris H. Wilson
LONG TITLE
General Description:
This bill modifies a provision of the State Money Management Act.
Highlighted Provisions:
This bill:
▸ provides that a public body that administers certain funds may hold a closed
meeting to discuss certain matters; and
▸ excludes certain information from the Government Records Access and
Management Act.
Money Appropriated in this Bill:
None
Other Special Clauses:
None
Utah Code Sections Affected:
AMENDS:
51-7-2
, as last amended by Laws of Utah 2023, Chapters 139, 242 and 328
Be it enacted by the Legislature of the state of Utah:
Section 1. Section 
51-7-2
 is amended to read:
51-7-2.
Exemptions from chapter.
(1) Except as provided in Subsection (2), the following funds are exempt from this
chapter:
(a) funds invested in accordance with the participating employees' designation or
direction pursuant to a public employees' deferred compensation plan established and operated
in compliance with Section 457 of the Internal Revenue Code of 1986, as amended;
(b) funds of the Utah State Retirement Board;
(c) funds of the Utah Housing Corporation;
(d) endowment funds of higher education institutions, including funds of the Higher
Education Student Success Endowment, created in Section 
53B-7-802
;
(e) permanent and other land grant trust funds established pursuant to the Utah
Enabling Act and the Utah Constitution;
(f) the State Post-Retirement Benefits Trust Fund;
(g) the funds of the Utah Educational Savings Plan;
(h) funds of the permanent state trust fund created by and operated under Utah
Constitution, Article XXII, Section 4;
(i) the funds in the Navajo Trust Fund;
(j) the funds in the Radioactive Waste Perpetual Care and Maintenance Account;
(k) the funds in the Employers' Reinsurance Fund;
(l) the funds in the Uninsured Employers' Fund;
(m) the Utah State Developmental Center Long-Term Sustainability Fund, created in
Section 
26B-1-331
;
(n) the funds in the Risk Management Fund created in Section 
63A-4-201
; and
(o) the Utah fund of funds created in Section 
63N-6-401
.
(2) Except for the funds of the Utah State Retirement Board and the Utah Educational
Savings Plan, the funds described in Subsection (1) are not exempt from Subsections
51-7-14
(2) and (3).
(3) Notwithstanding Title 52, Chapter 4, Open and Public Meetings Act, a public body
that administers a fund described in Subsection (1) may hold a closed meeting to discuss the
sale or purchase of identifiable securities, investment funds, or investment contracts.
(4) A paper, electronic, or other depiction or record of information relating to
investment activities of a fund described in Subsection (1) is not subject to Title 63G, Chapter
2, Government Records Access and Management Act.
Section 2. 
Effective date.
This bill takes effect on May 1, 2024.