(1) There is created the Point of the Mountain State Land Authority.

(2) The authority is: (a) an independent, nonprofit, separate body corporate and politic, with perpetual succession, whose purpose is to facilitate the development of state land; (b) a political subdivision of the state; and (c) a public corporation, as defined in Section 63E-1-102.

(a) an independent, nonprofit, separate body corporate and politic, with perpetual succession, whose purpose is to facilitate the development of state land;

(b) a political subdivision of the state; and

(c) a public corporation, as defined in Section 63E-1-102.

(3) Subject to Subsection 11-59-103(3), the authority shall manage the point of the mountain state land and shall plan, manage, and implement the development of the point of the mountain state land: (a) beginning May 8, 2018; (b) during the transition period as prison operations on the point of the mountain state land continue and eventually wind down in anticipation of the relocation of prison operations to the new correctional facility; and (c) upon and after the transfer of prison operations to the new correctional facility.

(a) beginning May 8, 2018;

(b) during the transition period as prison operations on the point of the mountain state land continue and eventually wind down in anticipation of the relocation of prison operations to the new correctional facility; and

(c) upon and after the transfer of prison operations to the new correctional facility.