Rep. Norm Thurston — Voting Record

Bill

Number

H.B. 411 (2025GS)

Sponsor

Rep. Shelley, Troy

Final action

Governor Signed 3/24/2025

Outcome

Became law — signed by Gov. Spencer J. Cox

Summary

What it does

• This bill:
• defines terms;
• requires a state entity selling or exchanging an environmental commodity to report a digital identification number to the Office of Energy Development;
• exempts from reporting requirements an environmental commodity created from activities on school and institutional trust lands;
• declares that an environmental commodity created from activities receiving state funds is the property of the state in proportion to the state funds contributed to create the environmental commodity;
• clarifies that an environmental commodity created or purchased by a state entity remains under the control of the state entity; and
• establishes duties for the state treasurer in managing an environmental commodity.

Every vote on this bill

Bill text

10
79-6-1101
79-6-1102
79-6-1103
0
Public Asset Ownership Amendments
2025 GENERAL SESSION
STATE OF UTAH
Chief Sponsor: Troy Shelley
Senate Sponsor: Derrin R. Owens
LONG TITLE
General Description:
This bill addresses the state ownership of certain environmental assets.
Highlighted Provisions:
This bill:
defines terms;
requires a state entity selling or exchanging an environmental commodity to report a 
digital identification number to the Office of Energy Development;
exempts from reporting requirements an environmental commodity created from 
activities on school and institutional trust lands; 
declares that an environmental commodity created from activities receiving state funds is 
the property of the state in proportion to the state funds contributed to create the 
environmental commodity; 
clarifies that an environmental commodity created or purchased by a state entity remains 
under the control of the state entity; and
establishes duties for the state treasurer in managing an environmental commodity.
Money Appropriated in this Bill:
None
Other Special Clauses:
None
Utah Code Sections Affected:
ENACTS:
79-6-1101
, Utah Code Annotated 1953
79-6-1102
, Utah Code Annotated 1953
79-6-1103
, Utah Code Annotated 1953
Be it enacted by the Legislature of the state of Utah:
Section 1, Section 
79-6-1101
 is enacted to read:
11. Environmental Commodities
79-6-1101
. Definitions for part.
As used in this part:
(1)
"Digital identification number" means an identification number assigned to an 
environmental commodity by a governmental or accredited third-party verification 
entity that certifies or registers an environmental commodity for sale or exchange.
(2)
(a)
"Environmental commodity" means a representation of the financial value of:
(i)
a reduction in the amount of greenhouse gas present in the atmosphere; or
(ii)
an amount of greenhouse gas prevented from entering the atmosphere.
(b)
"Environmental commodity" does not include a right or interest associated with a 
regulated pollutant, as that term is defined in Title V of the 1990 Clean Air Act.
(3)
 "Greenhouse gas" means carbon dioxide or methane.
(4)
"State entity" means a department, commission, board, council, agency, institution of 
higher education, officer, corporation, fund, division, office, committee, authority, 
laboratory, library, unit, bureau, panel, or other administrative unit of the state.
(5)
(a)
"State funds" means money appropriated by the Legislature.
(b)
"State funds" does not include money or financial benefit in the form of:
(i)
a tax incentive;
(ii)
a permit or an activity related to the development of a permit issued by a state 
entity; or
(iii)
a federal grant administered by a state entity.
Section 2, Section 
79-6-1102
 is enacted to read:
79-6-1102
. Reporting requirement -- Exemption.
(1)
Except as provided in Subsection 
(2)
, before a state entity may sell or exchange an 
environmental commodity, the state entity shall:
(a)
obtain a digital identification number for the environmental commodity;
(b)
report a digital identification number for the environmental commodity to the office; 
and
(c)
report to the office any state funds that the state entity used for the creation of the 
environmental commodity.
(2)
This section does not apply to an environmental commodity created from an activity on 
school and institutional trust lands, as that term is defined in Section 
53C-1-103
.
Section 3, Section 
79-6-1103
 is enacted to read:
79-6-1103
. Property of the state -- Management.
(1)
If the state or a state entity appropriates or expends state funds for the creation of an 
environmental commodity, the state owns a portion of an environmental commodity that 
is proportional to the amount of state funds appropriated or expended for the creation of 
the environmental commodity.
(2)
(a)
Except as provided in Subsection 
(3)
, the state treasurer may sell, exchange, or 
hold an environmental commodity, or any portion thereof, owned by the state in 
accordance with Subsection 
(2)(b)
.
(b)
The state treasurer shall ensure that an environmental commodity owned by the state 
is sold, exchanged, or held:
(i)
for the benefit of the citizens of the state;
(ii)
to promote energy independence for the state;
(iii)
to maximize the natural resources of the state; and
(iv)
consistent with Part 3, State Energy Policy.
(3)
An environmental commodity created or purchased by a state entity shall remain under 
the control of the state entity.
Section 4. 
Effective Date.
This bill takes effect on 
May 7, 2025
.
3-6-25 2:29 PM