(1) (a) On or before October 1 of each year, USTAR shall submit, in accordance with Section 68-3-14, an annual written report for the preceding fiscal year to: (i) the Business, Economic Development, and Labor Appropriations Subcommittee; (ii) the Economic Development and Workforce Services Interim Committee; (iii) the Business and Labor Interim Committee; and (iv) the governor. (b) An annual report under Subsection (1)(a) is subject to modification as provided in Subsection (5) after an audit described in Section 63M-2-803 is released.

(a) On or before October 1 of each year, USTAR shall submit, in accordance with Section 68-3-14, an annual written report for the preceding fiscal year to: (i) the Business, Economic Development, and Labor Appropriations Subcommittee; (ii) the Economic Development and Workforce Services Interim Committee; (iii) the Business and Labor Interim Committee; and (iv) the governor.

(i) the Business, Economic Development, and Labor Appropriations Subcommittee;

(ii) the Economic Development and Workforce Services Interim Committee;

(iii) the Business and Labor Interim Committee; and

(iv) the governor.

(b) An annual report under Subsection (1)(a) is subject to modification as provided in Subsection (5) after an audit described in Section 63M-2-803 is released.

(2) An annual report described in Subsection (1) shall include: (a) information reported to USTAR through the survey described in Section 63M-2-703; (b) a clear description of the methodology used to arrive at any information in the report that is based on an estimate; (c) starting with fiscal year 2017 data as a baseline, data from previous years for comparison with the annual data reported under this Subsection (2); (d) relevant federal and state statutory references and requirements; (e) contact information for the executive director; (f) other information determined by USTAR that promotes accountability and transparency; and (g) the written economic development objectives required under Subsection 63M-2-302(1)(e) and a description of progress or challenges in meeting the objectives.

(a) information reported to USTAR through the survey described in Section 63M-2-703;

(b) a clear description of the methodology used to arrive at any information in the report that is based on an estimate;

(c) starting with fiscal year 2017 data as a baseline, data from previous years for comparison with the annual data reported under this Subsection (2);

(d) relevant federal and state statutory references and requirements;

(e) contact information for the executive director;

(f) other information determined by USTAR that promotes accountability and transparency; and

(g) the written economic development objectives required under Subsection 63M-2-302(1)(e) and a description of progress or challenges in meeting the objectives.

(3) USTAR shall design the annual report to provide clear, accurate, and accessible information to the public, the governor, and the Legislature.

(4) USTAR shall: (a) submit the annual report in accordance with Section 68-3-14; and (b) place a link to the annual report and previous annual reports on USTAR's website.

(a) submit the annual report in accordance with Section 68-3-14; and

(b) place a link to the annual report and previous annual reports on USTAR's website.

(5) Following the completion of an annual audit described in Section 63M-2-803, USTAR shall: (a) publicly issue a revised annual report that: (i) addresses the audit; (ii) responds to audit findings; and (iii) incorporates any revisions to the annual report based on audit findings; (b) publish the revised annual report on USTAR's website, with a link to the audit; and (c) submit, in accordance with Section 68-3-14, written notification of any revisions of the annual report to: (i) the Business, Economic Development, and Labor Appropriations Subcommittee; (ii) the Economic Development and Workforce Services Interim Committee; (iii) the Business and Labor Interim Committee; and (iv) the governor.

(a) publicly issue a revised annual report that: (i) addresses the audit; (ii) responds to audit findings; and (iii) incorporates any revisions to the annual report based on audit findings;

(i) addresses the audit;

(ii) responds to audit findings; and

(iii) incorporates any revisions to the annual report based on audit findings;

(b) publish the revised annual report on USTAR's website, with a link to the audit; and

(c) submit, in accordance with Section 68-3-14, written notification of any revisions of the annual report to: (i) the Business, Economic Development, and Labor Appropriations Subcommittee; (ii) the Economic Development and Workforce Services Interim Committee; (iii) the Business and Labor Interim Committee; and (iv) the governor.

(i) the Business, Economic Development, and Labor Appropriations Subcommittee;

(ii) the Economic Development and Workforce Services Interim Committee;

(iii) the Business and Labor Interim Committee; and

(iv) the governor.

(6) In addition to the annual written report described in this section, USTAR shall: (a) provide information and progress reports to a legislative committee upon request; (b) on or before August 1, 2018, and every five years after August 1, 2018, provide to the same entities that receive the annual report described in Subsection (1)(a) a written analysis and recommendations concerning the usefulness of the information required in the annual report and USTAR's ongoing effectiveness, including whether: (i) the reporting requirements are effective at measuring USTAR's performance; (ii) the reporting requirements should be modified; (iii) USTAR is beneficial to the state and should continue; and (iv) whether programs in other agencies could provide similar benefits to the state more effectively or at a lower cost; and (c) on or before July 1, 2019, and in cooperation with the executive director of the Governor's Office of Economic Development, provide to the same entities that receive the annual report described in Subsection (1)(a) a written analysis and recommendations describing: (i) the most efficient way to move existing USTAR programs to the Governor's Office of Economic Development by July 1, 2020; (ii) the most cost-effective way to discontinue incubation centers and similar programs by November 30, 2019; (iii) a complete accounting of USTAR grants and an analysis of any technology that USTAR or the state may have a financial interest in if the technology is or was successful; (iv) a complete accounting of whether USTAR is owed any money as a result of previous agreements or the commercialization of technology funded by USTAR; (v) any technology funded in any part by USTAR that has been or should be commercialized; and (vi) a plan to do the following by November 30, 2019: (A) move USTAR's headquarters to office space within the Governor's Office of Economic Development; (B) subject to Subsection (6)(c)(vi)(C), terminate USTAR building leases; (C) transfer the lease of the Sparrowhawk building at Falcon Hill Drive in Clearfield, Utah to the Military Installation Development Authority; and (D) transfer ownership and title of any USTAR-owned building on the campus of Utah State University to Utah State University.

(a) provide information and progress reports to a legislative committee upon request;

(b) on or before August 1, 2018, and every five years after August 1, 2018, provide to the same entities that receive the annual report described in Subsection (1)(a) a written analysis and recommendations concerning the usefulness of the information required in the annual report and USTAR's ongoing effectiveness, including whether: (i) the reporting requirements are effective at measuring USTAR's performance; (ii) the reporting requirements should be modified; (iii) USTAR is beneficial to the state and should continue; and (iv) whether programs in other agencies could provide similar benefits to the state more effectively or at a lower cost; and

(i) the reporting requirements are effective at measuring USTAR's performance;

(ii) the reporting requirements should be modified;

(iii) USTAR is beneficial to the state and should continue; and

(iv) whether programs in other agencies could provide similar benefits to the state more effectively or at a lower cost; and

(c) on or before July 1, 2019, and in cooperation with the executive director of the Governor's Office of Economic Development, provide to the same entities that receive the annual report described in Subsection (1)(a) a written analysis and recommendations describing: (i) the most efficient way to move existing USTAR programs to the Governor's Office of Economic Development by July 1, 2020; (ii) the most cost-effective way to discontinue incubation centers and similar programs by November 30, 2019; (iii) a complete accounting of USTAR grants and an analysis of any technology that USTAR or the state may have a financial interest in if the technology is or was successful; (iv) a complete accounting of whether USTAR is owed any money as a result of previous agreements or the commercialization of technology funded by USTAR; (v) any technology funded in any part by USTAR that has been or should be commercialized; and (vi) a plan to do the following by November 30, 2019: (A) move USTAR's headquarters to office space within the Governor's Office of Economic Development; (B) subject to Subsection (6)(c)(vi)(C), terminate USTAR building leases; (C) transfer the lease of the Sparrowhawk building at Falcon Hill Drive in Clearfield, Utah to the Military Installation Development Authority; and (D) transfer ownership and title of any USTAR-owned building on the campus of Utah State University to Utah State University.

(i) the most efficient way to move existing USTAR programs to the Governor's Office of Economic Development by July 1, 2020;

(ii) the most cost-effective way to discontinue incubation centers and similar programs by November 30, 2019;

(iii) a complete accounting of USTAR grants and an analysis of any technology that USTAR or the state may have a financial interest in if the technology is or was successful;

(iv) a complete accounting of whether USTAR is owed any money as a result of previous agreements or the commercialization of technology funded by USTAR;

(v) any technology funded in any part by USTAR that has been or should be commercialized; and

(vi) a plan to do the following by November 30, 2019: (A) move USTAR's headquarters to office space within the Governor's Office of Economic Development; (B) subject to Subsection (6)(c)(vi)(C), terminate USTAR building leases; (C) transfer the lease of the Sparrowhawk building at Falcon Hill Drive in Clearfield, Utah to the Military Installation Development Authority; and (D) transfer ownership and title of any USTAR-owned building on the campus of Utah State University to Utah State University.

(A) move USTAR's headquarters to office space within the Governor's Office of Economic Development;

(B) subject to Subsection (6)(c)(vi)(C), terminate USTAR building leases;

(C) transfer the lease of the Sparrowhawk building at Falcon Hill Drive in Clearfield, Utah to the Military Installation Development Authority; and

(D) transfer ownership and title of any USTAR-owned building on the campus of Utah State University to Utah State University.