§ 63M-2-201. Science technology research buildings. (Effective 5/13/2014)

(1) As funding becomes available from the Legislature or other sources, the USTAR governing authority shall:

(a) construct at Utah State University:

(i) a Bio Innovations Research Institute;

(ii) an Infectious Disease Research Center; and

(iii) an Informatics/Computing Research Center; and

(b) construct at the University of Utah:

(i) a Neuroscience and Biomedical Technology Research Building; and

(ii) an Information Technology and Bioinformatics Research Center.

(2) The USTAR governing authority shall, subject to any restrictions or directions established by the Legislature, plan, design, and construct the buildings.

(3)

(a) Utah State University shall provide the land for the construction of science technology and research buildings on its campus.

(b) The University of Utah shall provide the land for the construction of science technology and research buildings on its campus.

(4) The USTAR governing authority shall hold title to the research buildings.

(5) The governing authority shall:

(a) before approving occupancy of a building, lease each building constructed on Utah State University's campus to Utah State University and each building constructed on the University of Utah's campus to the University of Utah by entering into a written lease agreement with each university that clearly establishes the terms for the university's use, maintenance, and ongoing rental payments for the building;

(b) require research teams to generate a certain amount of revenue from grants or other sources to contribute to the USTAR initiative; and

(c) unless prohibited by law, deposit lease payments and other money received from the universities and research teams with the state treasurer for deposit into the sinking funds created under Section 63B-1a-301 for debt service on the bonds issued to fund planning, design, and construction of the research buildings.

Amended by Chapter 186, 2014 General Session