Bill > HB0297

This bill requires institutions of higher education in Utah to obtain approval from the Legislature before entering into certain agreements with private capital firms, which are defined as investment vehicles like private equity or hedge funds that pool money to acquire ownership stakes or share in revenues. Specifically, any contract that gives a private capital firm an ownership interest in, a right to share in revenues generated by, or control over an intercollegiate athletics program, or establishes a joint venture where the firm receives financial returns tied to athletics revenues, will need legislative approval via a joint resolution. However, this requirement does not apply to standard fee-for-service contracts, basic sponsorship or licensing deals without revenue sharing or control, charitable gifts, or traditional debt financing arrangements. The bill also amends definitions related to intercollegiate athletics, introducing "control rights" to clarify what constitutes influence over an athletics program, and mandates that institutions provide their athletics program accounts to the state auditor upon request.

https://le.utah.gov/~2026/bills/static/HB0297.html