Section 1. Section 51-12-102 is amended to read:51-12-102Effective 05/06/26Repealed 07/01/27. Reporting.(1)The state treasurer shall share the information reported in accordance with Subsection 51-12-202(2)(d)51-12-202(2)(c) with the governor's office.(2)Before December 31 of each year, the state treasurer and the governor's office or the governor's office's designee shall report to the Legislative Management Committee:(a)the dollar amount of deposits and the number of qualified depositories in which a deposit is made in accordance with Part 2, Investment Program;(b)the information reported in accordance with Subsection 51-12-202(2)(d)51-12-202(2)(c); and(c)the impact of the Utah Homes Investment Program on the availability of housing in the state.(3)(a)Beginning after June 30, 2028, the state treasurer shall conduct a study that analyzes whether the lending activity under the Utah Homes Investment Program resulted in measurable local economic benefits.(b)On or before October 1, 2028, the state treasurer shall submit a report summarizing the results of the study to the Legislative Management Committee and the governor.(c)The state treasurer may contract with a third party to complete the study and report described in this Subsection (3).

Section 2. Section 51-12-202 is amended to read:51-12-202Effective 05/06/26Repealed 07/01/27. Terms of deposit.(1)The state treasurer shall enter into a deposit agreement with an approved qualified depository in accordance with Section 51-12-201.(2)The deposit agreement shall provide that the qualified depository:(a)shall offer loan financing to a developer or city of the first or second class of a qualified project at a rate no higher than 150 basis points above the federal funds effective rate at the time of the deposit;(b)(a)shall return the amount of deposit:(i)with interest at a rate equal to the greater of:(A)the federal funds effective rate at the time of the deposit minus 200 basis points; or(B)0.5%; and(ii)at the earlier of:(A)24 months from the day on which the deposit is made;(B)repayment of the loan financing;(C)the sale of the last home in the qualified project; or(D)June 30, 2028;(c)(b)is responsible for return of the amount of the deposit with accrued interest regardless of the completion of the qualified project or the repayment of the qualified depository's loan to the developer or city of the first or second class of the qualified project; and(d)(c)shall report to the state treasurer the total number of housing units and the number of attainable homes each qualified project created.(3)(a)Notwithstanding the provisions of Subsections (2)(b)(ii) and (2)(c)(2)(a)(ii) and (2)(b), for a deposit made to the Utah Housing Corporation, the Utah Housing Corporation shall return the amount of the deposit with accrued interest when the Utah Housing Corporation has received:(i)repayment of the loan financing; or(ii)proceeds from the sale or other disposition of the homes in the qualified project.(b)The Utah Housing Corporation may return the deposit later than the time period described in Subsection (2)(b)(ii)(A) or (D)(2)(a)(ii)(A) or (D) without penalty.(4)A qualified depository may return the deposit earlier than the time period described in Subsection (2)(b)(ii)(2)(a)(ii) without penalty.(5)The state treasurer shall deposit the return of the amount of the deposit, including interest, into the fund.

Section 3. Section 63I-1-251 is amended to read:63I-1-251Effective 05/06/26. Repeal dates: Title 51.(1)Subsection 51-7-2(1)(p), regarding the Transportation Infrastructure General Fund Support Subfund, is repealed July 1, 20282029.(2)Title 51, Chapter 12, Utah Homes Investment Program, is repealed July 1, 20282029.

Section 4. Section 63I-1-272 is amended to read:63I-1-272Effective 05/06/26. Repeal dates: Title 72.(1)Subsection 72-1-217(4), regarding highway reduction strategies within Salt Lake City, is repealed July 1, 2029.(2)Section 72-2-134, Transportation Infrastructure General Fund Support Subfund, is repealed July 1, 20282029.(3)Title 72, Chapter 4, Part 3, Utah State Scenic Byway Program, is repealed January 2, 2030.(4)Title 72, Chapter 10, Part 13, Spaceport Exploration Committee, is repealed July 1, 2027.

Section 5. Effective Date.This bill takes effect on May 6, 2026.