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House adopts requirement for annual audited reports and periodic land estimates for School and Institutional Trust Lands
Summary
The Utah House on Feb. 27 adopted fourth-substitute House Bill 483 to require annual audited financial reports from the School and Institutional Trust Lands Administration and a five-year program to estimate the value of trust land holdings; the measure passed 70-0 and was sent to the Senate.
The Utah House of Representatives on Feb. 27 adopted fourth-substitute House Bill 483, a measure requiring the School and Institutional Trust Lands Administration to publish an annual financial report with audited statements and to begin a five-year program to estimate the value of its land holdings.
Supporters said the bill responds to findings in a 2024 legislative audit and is intended to increase transparency and fiduciary oversight of trust lands…
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