Section 53E-3-403 - Establishment of public education foundations - Powers and duties - Tax exempt status(1) The state board, a local school board, or the Utah Schools for the Deaf and the Blind may establish foundations to: (a) assist in the development and implementation of programs to promote educational excellence; and(b) assist in the accomplishment of other education-related objectives.(2) A foundation established under Subsection (1):(a) may solicit and receive contributions from private enterprises for the purpose of this section;(b) shall comply with Title 51, Chapter 7, State Money Management Act, and rules made under the act;(c) has no power or authority to incur contractual obligations or liabilities that constitute a claim against public funds except as provided in this section;(d) may not exercise executive, administrative, or rulemaking authority over the programs described in this section, except to the extent specifically authorized by the responsible school board;(e) is exempt from all taxes levied by the state or any of its political subdivisions with respect to activities conducted under this section;(f) may participate in the Risk Management Fund under Section 63A-4-204;(g) shall provide a school with information detailing transactions and balances of funds managed for that school;(h) shall, for foundation accounts from which money is distributed to schools, provide all the schools within a school district information that: (i) details account transactions; and(ii) shows available balances in the accounts; and(i) may not: (i) engage in lobbying activities;(ii) attempt to influence legislation; or(iii) participate in any campaign activity for or against: (A) a political candidate; or(B) an initiative, referendum, proposed constitutional amendment, bond, or any other ballot proposition submitted to the voters.(3) A local school board that establishes a foundation under Subsection (1) shall:(a) require the foundation to:(i) use the school district's accounting system; or(ii) follow written accounting policies established by the local school board;(b) review and approve the foundation's accounting, purchasing, and check issuance policies to ensure that there is an adequate separation of responsibilities; and(c) approve procedures to verify that issued foundation payments have been properly approved.Amended by Chapter 186, 2019 General Session ,§ 18, eff. 5/14/2019.Renumbered from § 53A-4-205 and amended by Chapter 1, 2018 General Session ,§ 23, eff. 1/24/2018.Amended by Chapter 280, 2011 , 2011 General Session
Amended by Chapter 342, 2011 General Session