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House Amends SB2005 to Allow Separate Agreements and Require Legislative Report if HuntsmanCommitment Is Removed
Summary
Lawmakers amended Senate Bill 2005 to let the University of Utah and the Huntsman Cancer Institute hold separate contracts while preserving a 60% Huntsman repayment commitment; the adopted amendment also requires a report to the Legislative Fiscal AnalystOffice if the statutory 60% requirement is removed.
Salt Lake City — The Utah House of Representatives amended Senate Bill 2005 on Sept. 26, 2001, to change how revenue bonds for capital facilities tied to the Huntsman Cancer Institute are structured and to add a legislative reporting requirement if a percentage repayment provision is removed from statute.
Lawmakers heard that current law identifies a 60% repayment share for the Huntsman Cancer Institute and 40% for the University of Utah. An explanatory speaker said the bill restructures contracts so there will be two agreementsone between the state and the University of Utah and a second between the University of Utah and…
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