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S.B. 276 Enrolled

             1     

WATER CONSERVANCY DISTRICT CAPITAL ASSETS

             2     
2013 GENERAL SESSION

             3     
STATE OF UTAH

             4     
Chief Sponsor: John L. Valentine

             5     
House Sponsor: Don L. Ipson

             6     
             7      LONG TITLE
             8      General Description:
             9          This bill requires certain water conservancy districts to adopt a policy for and prepare
             10      certain reports on the district's qualified capital assets.
             11      Highlighted Provisions:
             12          This bill:
             13          .    defines terms;
             14          .    requires a qualified water conservancy district to adopt a policy for the assessment,
             15      maintenance, and replacement of qualified capital assets;
             16          .    requires certain provisions and requirements to be adopted in the policy, including:
             17              .    assessment methods;
             18              .    performance and condition standards; and
             19              .    financial guidelines;
             20          .    requires a qualified water conservancy district to adopt a multiyear qualified capital
             21      asset plan; and
             22          .    requires a qualified water conservancy district to submit a report of the district's
             23      qualified capital asset facilities to the director of the Division of Water Resources.
             24      Money Appropriated in this Bill:
             25          None
             26      Other Special Clauses:
             27          None
             28      Utah Code Sections Affected:
             29      ENACTS:


             30          17B-2a-1010, Utah Code Annotated 1953
             31     
             32      Be it enacted by the Legislature of the state of Utah:
             33          Section 1. Section 17B-2a-1010 is enacted to read:
             34          17B-2a-1010. Capital asset assessment, maintenance, and replacement policy.
             35          (1) As used in this section:
             36          (a) "Capital asset" means one of the following that is:
             37          (i) a significant investment or an essential component necessary to provide a service,
             38      including:
             39          (A) a facility;
             40          (B) infrastructure, whether above or below ground level;
             41          (C) equipment; or
             42          (D) a communications network; and
             43          (ii) owned by a qualified water conservancy district.
             44          (b) "Policy" means the capital asset assessment, maintenance, and replacement policy
             45      required under Subsection (2).
             46          (c) "Qualified capital asset" means a capital asset that is:
             47          (i) identified in a policy in accordance with Subsection (2)(b); and
             48          (ii) inventoried, assessed, funded, or otherwise subject to a qualified water
             49      conservancy's policy in accordance with this section.
             50          (d) "Qualified water conservancy district" means a water conservancy district with an
             51      annual operating budget greater than $5,000,000.
             52          (2) (a) Each qualified water conservancy district shall adopt a policy for the
             53      assessment, maintenance, and replacement of capital assets that are qualified capital assets.
             54          (b) The policy shall adopt language that defines in general or specific terms which
             55      capital assets are qualified capital assets.
             56          (3) The policy shall require the qualified water conservancy district to:
             57          (a) complete an inventory of each qualified capital asset, including for each qualified


             58      capital asset:
             59          (i) an engineering description;
             60          (ii) location;
             61          (iii) physical dimensions and condition;
             62          (iv) documentation of the qualified capital asset's standard features;
             63          (v) warranties;
             64          (vi) maintenance history;
             65          (vii) replacement costs;
             66          (viii) market value;
             67          (ix) original useful life; and
             68          (x) remaining useful life; and
             69          (b) assess the physical condition of the qualified capital asset in accordance with a
             70      method established under Subsection (4)(a)(i) at least every five years.
             71          (4) (a) The policy shall establish:
             72          (i) a method to assess the physical condition of each qualified capital asset;
             73          (ii) performance and condition standards for each qualified capital asset;
             74          (iii) a program for monitoring and reporting the qualified water conservancy district's
             75      application of and compliance with the policy, including a comparison of each qualified capital
             76      asset's current status and targeted standards for that qualified capital asset as set forth in the
             77      policy;
             78          (iv) a process for the qualified water conservancy district to evaluate existing qualified
             79      capital assets for efficiency and expected service delivery; and
             80          (v) objective criteria for the qualified water conservancy district to prioritize
             81      maintenance or replacement of qualified capital assets.
             82          (b) A performance and condition standard described in Subsection (4)(a)(ii) may be:
             83          (i) a mandated safety standard;
             84          (ii) a standard condition of receiving federal, state, or local funding; or
             85          (iii) an applicable engineering or other professional standard.


             86          (5) As part of the policy, the qualified water conservancy district shall adopt financial
             87      guidelines to dedicate revenue to a priority qualified capital asset identified under Subsection
             88      (4)(a)(v) in accordance with a multiyear qualified capital plan described in Subsection (6)(a).
             89          (6) (a) Each qualified water conservancy district shall adopt a multiyear qualified
             90      capital asset plan.
             91          (b) Each qualified water conservancy district shall:
             92          (i) include criteria and guidelines in the policy for allocating sufficient funds in a
             93      multiyear qualified capital asset plan and in the qualified water conservancy district's annual
             94      operating budget for assessing, maintaining, repairing, and replacing qualified capital assets;
             95          (ii) establish an ongoing source of funds in the multiyear qualified capital asset plan
             96      and each annual operating budget for repair and replacement costs of qualified capital assets in
             97      accordance with the policy; and
             98          (iii) establish a repair and replacement reserve for capital projects in its capital projects
             99      fund and allocate from the repair and replacement reserve subject to Subsection 17B-1-612 (5).
             100          (c) The board of trustees of a qualified water conservancy district shall adopt an annual
             101      operating budget that includes ongoing funding described in Subsection (6)(b)(ii).
             102          (7) (a) A qualified water conservancy district shall submit a report of the qualified
             103      water conservancy district's qualified capital asset facilities to the director of the Division of
             104      Water Resources, established in Section 73-10-18 , no later than December 31, 2017, and no
             105      less than every five years thereafter.
             106          (b) The qualified capital asset facilities report required under Subsection (7)(a) shall:
             107          (i) describe the proposed replacement time frame for each qualified capital asset;
             108          (ii) account for each funding source for the qualified capital asset and include any
             109      restrictions a funding source may impose on the use or disposal of qualified capital assets;
             110          (iii) account for any change in a qualified capital asset's value since the last qualified
             111      capital asset facilities report submitted by the qualified water conservancy district; and
             112          (iv) provide a statement of actual expenditures and performance data for each qualified
             113      capital asset compared to budgeted expenditures.


             114     


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