01-24 16:04 H.B. 331 1 Olympics Amendments 2025 GENERAL SESSION STATE OF UTAH Chief Sponsor: Jon Hawkins Senate Sponsor: 2 3 LONG TITLE 4 General Description: 5 This bill modifies provisions of the Olympic and Paralympic Winter Games Act. 6 Highlighted Provisions: 7 This bill: 8 ▸ codifies requirements that relate to a sale or transfer of part of an Olympic facility, which 9 requirements were previously approved by the Legislature via joint resolutions; 10 ▸ codifies requirements that must be met before any portion of an Olympic facility may be 11 sold or transferred; 12 ▸ requires the governor, or the governor's designee, and an Olympic facility manager to 13 meet with the Legislative Management Committee in connection with approving a sale 14 of a part of an Olympic facility; and 15 ▸ requires an Olympic facility manager to give prior notice of certain structural changes in 16 the organization to the Legislative Management Committee. 17 Money Appropriated in this Bill: 18 None 19 Other Special Clauses: 20 None 21 Utah Code Sections Affected: 22 ENACTS: 23 63G-28-403, Utah Code Annotated 1953 24 25 Be it enacted by the Legislature of the state of Utah: 26 Section 1. Section 63G-28-403 is enacted to read: 27 63G-28-403 . Requirements for sale of any interest in an Olympic facility. 28 (1) As used in this section: 29 (a) "Olympic facility" means a building, area of land, an area of land with 30 improvements, or any other real property that is used, or is intended be used, for H.B. 331 H.B. 331 01-24 16:04 31 sporting or other official events of the 2034 Olympic and Paralympic Winter Games. 32 (b)(i) "Olympic facility manager" means an entity that owns, controls, operates, or 33 manages a facility that: 34 (A) is an Olympic facility; and 35 (B) was constructed primarily by the state, or a state agency, using state funds and 36 for the purpose of serving as a facility for use in an Olympic and Paralympic 37 Winter Games. 38 (ii) "Olympic facility manager" does not include the state or a political subdivision. 39 (c) "Political subdivision" means the same as that term is defined in Section 63A-15-102. 40 (d) "Sale," "sell," "sells," or "sold" means to transfer ownership, title to, control of, or 41 possession of real property or an interest in real property, with or without 42 consideration. 43 (2)(a) Before any interest in, or any property contained within, an Olympic facility is 44 sold by an Olympic facility manager, the following conditions shall be met: 45 (i) the aggregate of all negotiated sales conducted under this section may not exceed 46 10% of the original acreage of the Olympic facility; 47 (ii) the Olympic facility manager shall ensure that any transaction involving a sale of 48 a portion of an Olympic facility: 49 (A) provides for a fair return on the value of the real property or interest being 50 sold; and 51 (B) does not result in the Olympic facility manager bearing any financial risk for 52 the development or use of the portion of the Olympic facility that is sold; 53 (iii) an Olympic facility manager shall give notice of a potential sale in writing to the 54 governor, the president of the Senate, and the speaker of the House of 55 Representatives before entering into any negotiation, contract, or agreement that 56 involves the sale of a portion of an Olympic facility; 57 (iv) before executing any agreement that obligates an Olympic facility manager to 58 sell a portion of an Olympic facility, the Olympic facility manager shall: 59 (A) obtain the written approval of the governor, subject to Subsection (2)(b); 60 (B) meet with the Legislative Management Committee as required under 61 Subsection (2)(c); and 62 (C) obtain the approval of the Legislature by means of a joint resolution; 63 (v) an Olympic facility manager may not agree to the imposition of a lien, mortgage, 64 debt, trust deed, pledge, assignment, judgment, or any other financial - 2 - 01-24 16:04 H.B. 331 65 encumbrance or obligation against an Olympic facility, but may encumber that 66 portion of the Olympic facility that is not being sold to grant rights-of-way or 67 easements, but only to the extent: 68 (A) necessary for the real estate development on the portion of the Olympic 69 facility being sold; and 70 (B) approved in writing by the governor after the governor determines that the 71 Olympic facility manager is legally able to encumber the Olympic facility; 72 (vi) before executing any agreement obligating an Olympic facility manager to sell a 73 portion of an Olympic facility, the Olympic facility manager shall: 74 (A) obtain a written legal opinion that any legal requirements or restrictions 75 related to the sale of a portion of the Olympic facility can be satisfied before 76 the execution of the sale of a portion of the Olympic facility; and 77 (B) provide a copy of the legal opinion to the governor, the president of the 78 Senate, and the speaker of the House or Representatives; and 79 (vii) an Olympic facility manager shall enter into an agreement with the governor's 80 office, or other entity designated by the governor's office, to indemnify, hold 81 harmless, and release the state and any of the state's entities, officers, members, 82 agents, volunteers, and employees from and against any and all losses, claims, 83 damages, injuries, liabilities, suits, or proceedings arising out of any transaction to 84 sell a portion of an Olympic facility or the performance of any transaction, 85 including court costs, reasonable attorney fees and disbursements, and all amounts 86 paid in investigation, defense, or settlement in connection with, arising out of, or 87 resulting from a transaction to sell a portion of an Olympic facility. 88 (b) Before providing any written approval that is required in Subsection (2)(a)(iv): 89 (i) the governor shall take reasonable steps to ensure that any legal requirements or 90 restrictions on the state related to the sale of a portion of the Olympic facility can 91 be satisfied before the execution date of the sale, including, as applicable, 92 termination of any reversionary interest held by the state in any portion of the 93 Olympic facility being sold; and 94 (ii) the governor or the governor's designee shall meet with the Legislative 95 Management Committee to: 96 (A) inform the Legislative Management Committee of whether the governor 97 intends to provide written approval under this section; 98 (B) report on the timeline and status of the governor's required actions under this - 3 - H.B. 331 01-24 16:04 99 section; and 100 (C) answer questions from the Legislative Management Committee. 101 (c) Before executing any agreement that obligates an Olympic facility manager to sell a 102 portion of an Olympic facility, the Olympic facility manager shall meet with the 103 Legislative Management Committee to: 104 (i) inform the Legislative Management Committee of the status of any negotiation or 105 sale; 106 (ii) report on the timeline and status of the Olympic facility manager's required 107 actions under this section; and 108 (iii) answer questions from the Legislative Management Committee. 109 (3) An Olympic facility manager shall, before making any change in its articles of 110 incorporation, bylaws, or changes in the requirements of its membership, meet with the 111 Legislative Management Committee to give notice of the proposed changes and to 112 answer questions from the Legislative Management Committee. 113 Section 2. Effective Date. 114 This bill takes effect on May 7, 2025. - 4 -