Utah Code 11-13-318. Notice of decommissioning or disposal of project entity assets
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(1) As used in this section:
Terms Used In Utah Code 11-13-318
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Land: includes :(18)(a) land;(18)(b) a tenement;(18)(c) a hereditament;(18)(d) a water right;(18)(e) a possessory right; and(18)(f) a claim. See Utah Code 68-3-12.5
- Project: includes a project entity's ownership interest in:
(17)(b)(i) facilities that provide additional project capacity;(17)(b)(ii) facilities providing replacement project capacity;(17)(b)(iii) additional generating, transmission, fuel, fuel transportation, water, or other facilities added to a project; and(17)(b)(iv) a Utah interlocal energy hub, as defined in Section 11-13-602. See Utah Code 11-13-103- Project entity: means a Utah interlocal entity or an electric interlocal entity that owns a project as defined in this section. See Utah Code 11-13-103
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(1)(a) “Alternative permit” means the same as that term is defined in Section11-13-320 .(1)(b) “Decommissioning” means to remove an electrical generation facility from active service.(1)(c) “Disposal” means the sale, transfer, dismantling, or other disposition of a project entity’s assets.(1)(d) “Division” means the Division of Air Quality created in Section19-1-105 .(1)(e) “Fair market value” means the same as that term is defined in Section79-6-408 .(1)(f)(1)(f)(i) “Project entity asset” means a project entity‘s:(1)(f)(i)(A) land;(1)(f)(i)(B) water;(1)(f)(i)(C) buildings; or(1)(f)(i)(D) essential equipment, including turbines, generators, transformers, and transmission lines.(1)(f)(ii) “Project entity asset” does not include an asset that is not essential for the generation of electricity in the project entity’s coal-powered electrical generation facility.(2) A project entity shall provide a notice of decommissioning or disposal to the Legislative Management Committee at least 180 days before:(2)(a) the disposal of any project entity assets; or(2)(b) the decommissioning of the project entity’s coal-powered electrical generation facility.(3) The notice of decommissioning or disposal described in Subsection (2) shall include:(3)(a) the date of the intended decommissioning or disposal;(3)(b) a description of the project entity’s coal-powered electrical generation facility intended for decommissioning or any project entity asset intended for disposal; and(3)(c) the reasons for the decommissioning or disposal.(4) A project entity may not intentionally prevent the functionality of the project entity’s existing coal-powered electrical generation facility.(5) Notwithstanding the requirements in Subsections (2) through (4), a project entity may take any action necessary to transition to a new electrical generation facility powered by natural gas, hydrogen, or a combination of natural gas and hydrogen, including any action that has been approved by a permitting authority.(6) A project entity shall provide the state the option to purchase for fair market value a project entity asset intended for decommissioning, with the option remaining open for at least two years, beginning on July 2, 2025. - Project: includes a project entity's ownership interest in: