(1) Before July 1, 2019, the governing authority shall, and on or after July 1, 2019, the program director and the executive director of the Governor's Office of Economic Development shall: (a) ensure that funds appropriated to USTAR are used appropriately, effectively, and efficiently in accordance with this chapter; (b) in cooperation with a research university's administration, work to expand research at the research university; (c) enhance technology transfer and commercialization of research and technology developed at a higher education institution to create high-quality jobs and new industries in the private sector in the state; (d) ensure that USTAR programs do not duplicate existing or planned programs of other state agencies; (e) establish written economic development objectives for USTAR that are measurable and verifiable; (f) consider input from the Governor's Office of Economic Development and higher education institutions; (g) establish and administer a grant program, as provided in Section 63M-2-503, and provide USTAR support, as provided in Section 63M-2-504, consistent with and to further economic development objectives that USTAR establishes; and (h) in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, make rules to implement this chapter.

(a) ensure that funds appropriated to USTAR are used appropriately, effectively, and efficiently in accordance with this chapter;

(b) in cooperation with a research university's administration, work to expand research at the research university;

(c) enhance technology transfer and commercialization of research and technology developed at a higher education institution to create high-quality jobs and new industries in the private sector in the state;

(d) ensure that USTAR programs do not duplicate existing or planned programs of other state agencies;

(e) establish written economic development objectives for USTAR that are measurable and verifiable;

(f) consider input from the Governor's Office of Economic Development and higher education institutions;

(g) establish and administer a grant program, as provided in Section 63M-2-503, and provide USTAR support, as provided in Section 63M-2-504, consistent with and to further economic development objectives that USTAR establishes; and

(h) in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, make rules to implement this chapter.

(2) Before July 1, 2019, the governing authority may, and on or after July 1, 2019, the program director and the executive director of the Governor's Office of Economic Development may: (a) in addition to receiving money appropriated by the Legislature, receive contributions to USTAR from any source, in the form of money, property, labor, or other thing of value; (b) subject to restrictions imposed by a donor or legislative appropriation, allocate money for programs and activities described in this chapter; (c) enter into an agreement necessary to obtain private equity investment in USTAR; (d) charge and collect rent for space in a facility or building that USTAR controls; (e) in fulfilling USTAR's duties and responsibilities under this chapter, collaborate with: (i) the Governor's Office of Economic Development and other state agencies with an interest in economic development; and (ii) private entities with an interest in economic development; and (f) delegate powers and duties to the executive director.

(a) in addition to receiving money appropriated by the Legislature, receive contributions to USTAR from any source, in the form of money, property, labor, or other thing of value;

(b) subject to restrictions imposed by a donor or legislative appropriation, allocate money for programs and activities described in this chapter;

(c) enter into an agreement necessary to obtain private equity investment in USTAR;

(d) charge and collect rent for space in a facility or building that USTAR controls;

(e) in fulfilling USTAR's duties and responsibilities under this chapter, collaborate with: (i) the Governor's Office of Economic Development and other state agencies with an interest in economic development; and (ii) private entities with an interest in economic development; and

(i) the Governor's Office of Economic Development and other state agencies with an interest in economic development; and

(ii) private entities with an interest in economic development; and

(f) delegate powers and duties to the executive director.