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First Substitute H.J.R. 28
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9 LONG TITLE
10 General Description:
11 This joint resolution of the Legislature encourages state research universities to study
12 ways to identify innovative uses of resources on state lands for the benefit of the trust
13 beneficiaries.
14 Highlighted Provisions:
15 This resolution:
16 . encourages state research universities to study and assess innovative uses for the
17 resources to be found on state trust lands to maximize the economic benefit of the
18 resources in the best interest of the trust beneficiaries; and
19 . encourages state agencies, including the School and Institutional Trust Lands
20 Administration, to work cooperatively with state research universities on the
21 project.
22 Special Clauses:
23 None
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25 Be it resolved by the Legislature of the state of Utah:
26 WHEREAS, the statutory change that created the School and Institutional Trust Lands
27 Administration in 1994 has resulted in significant increases in the annual returns from state
28 land management;
29 WHEREAS, this change has provided for an increase in the Permanent School Trust
30 Fund from $108,452,337 in 1995 to a current figure of $729,195,982;
31 WHEREAS, this increase in the Permanent School Trust Fund since 1995 is greater
32 than all increases that the previous century of management had produced;
33 WHEREAS, nonrenewable natural resources development has been and continues to
34 be the source of over 70% of annual state trust land revenues;
35 WHEREAS, an assessment of the resources available on state trust lands and the uses
36 they could be put to for the benefit of Utah's school children and other beneficiaries of the trust
37 lands are tasks of potentially great significance to the state of Utah;
38 WHEREAS, Utah's research universities could, through research and experimentation,
39 identify and develop innovative uses for the resources found on state trust lands that go beyond
40 traditional uses;
41 WHEREAS, identifying these creative uses of resources on state trust lands is a key
42 step to ensuring that the economic benefits of the resources will be optimized in the best
43 interests of the beneficiaries of the trust lands;
44 WHEREAS, additional issues for study could include a review of what changes to state
45 law would significantly increase the benefits that trust beneficiaries derive from state trust
46 lands and the prospect of a "best practices" and bench marking review of how other states
47 manage their state trust lands;
48 WHEREAS, state research universities are in a unique position to offer their skills and
49 expertise to those seeking answers to these questions;
50 WHEREAS, the School and Institutional Trust Lands Administration could provide
51 significant assistance in this research effort by making much needed data available; and
52 WHEREAS, developing a coordinated strategy in the design of the review and
53 partnering with state agencies with expertise could greatly aid research universities in this
54 effort:
55 NOW, THEREFORE, BE IT RESOLVED that the Legislature of the state of Utah
56 encourages state research universities to conduct an assessment of resources to be found on
57 state trust lands and the innovative ways in which those resources could be utilized to
58 maximize the economic benefits of the resources in the best interests of the trust beneficiaries.
59 BE IT FURTHER RESOLVED that the Legislature encourages state agencies,
60 including the School and Institutional Trust Lands Administration, to work cooperatively with
61 state research universities if they undertake such a challenging project.
62 BE IT FURTHER RESOLVED that a copy of this resolution be sent to Utah State
63 University, the University of Utah, the Governor's Office of Economic Development, the Utah
64 State Board of Education, the Utah State Office of Education, and the School and Institutional
65 Trust Lands Administration.
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