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(1) There is created the Utah Energy Infrastructure Authority Board that consists of nine members as follows:
(a) members appointed by the governor:
(i) the energy advisor or the director of the Office of Energy Development, who shall serve as chair of the board;
(ii) one member from the Governor's Office of Economic Opportunity;
(iii) one member from a public utility or electric interlocal entity that operates electric transmission facilities within the state;
(iv) two members representing the economic development interests of rural communities as follows:
(A) one member currently serving as county commissioner of a county of the third, fourth, fifth, or sixth class, as described in Section 17-50-501; and
(B) one member of a rural community with work experience in the energy industry;
(v) two members of the general public with relevant industry or community experience; and
(vi) one member of the general public who has experience with public finance and bonding; and
(b) the director of the School and Institutional Trust Lands Administration created in Section 53C-1-201.
(2)
(a) The term of an appointed board member is four years.
(b) Notwithstanding Subsection (2)(a), the governor shall, at the time of appointment or reappointment, adjust the length of terms to ensure that the terms of board members are staggered so that approximately half of the board is appointed every two years.
(c) The governor may remove a member of the board for cause.
(d) The governor shall fill a vacancy in the board in the same manner under this section as the appointment of the member whose vacancy is being filled.
(e) An individual appointed to fill a vacancy shall serve the remaining unexpired term of the member whose vacancy the individual is filling.
(f) A board member shall serve until a successor is appointed and qualified.
(3)
(a) Five members of the board constitute a quorum for conducting board business.
(b) A majority vote of the quorum present is required for an action to be taken by the board.
(4)
(a) Except as provided in Subsections (4)(b) and (4)(c), the board shall meet once each month, on a day determined by the board, to review an application referred to the board by the Office of Energy Development under Title 79, Chapter 6, Part 6, High Cost Infrastructure Development Tax Credit Act.
(b) Subject to Subsection (4)(c), the board may cancel the board's meeting for a given month if there are no applications described in Subsection (4)(a) pending board approval.
(c) The board shall meet no less frequently than once each quarter, on a day determined by the board.
(5) A member may not receive compensation or benefits for the member's service, but may receive per diem and travel expenses in accordance with:
(a) Section 63A-3-106;
(b) Section 63A-3-107; and
(c) rules made by the Division of Finance pursuant to Sections 63A-3-106 and 63A-3-107.