UT SB0043

Renames the "Land Trusts Protection and Advocacy Office" to the "School and Institutional Trust Beneficiaries' Advocacy Office" and establishes it as the primary representative for trust beneficiaries including public schools, schools for the deaf and blind, University of Utah, Utah State University, and other state institutions.

Creates a seven-member School and Institutional Trust Beneficiaries' Advocacy Council to govern the advocacy office, with members appointed by trustee boards, the state treasurer, and the State Board of Education, serving four-year staggered terms.

Reduces the Board of Trustees nominating committee from 11 to 9 members and restructures its composition, with three members appointed by the new advocacy council chair and five appointed by the governor from nominations by industry associations and state agencies.

Establishes accountability requirements for institutional beneficiaries receiving trust distributions, including maintaining clear expenditure records, convening annual advisory groups, developing spending plans, and participating in compliance reviews by the advocacy office.

Takes effect July 1, 2026, and appropriates no new money while amending multiple sections of Utah Code related to trust lands administration, trust fund management, and the School LAND Trust Program.