{"data":{"id":"us-ut/utah-code-63a-5b-801","jurisdiction":"us-ut","citation":"Utah Code § 63A-5b-801","heading":"Definitions.","body":"As used in this part:\n(1) \"Agency optional term\" means an option that is exclusively exercisable by a leasing agency to extend the lease term.\n(2) \"High-cost lease\" means a real property lease that:\n(a) has an initial term including any agency optional term of 10 years or more; or\n(b) will require lease payments of more than $5,000,000 over the term of the lease, including any agency optional term.\n(3)\n(a) \"Leasing agency\" means a department, commission, board, council, agency, institution, officer, corporation, fund, division, office, committee, authority, laboratory, library, unit, bureau, panel, or other administrative unit of the state.\n(b) \"Leasing agency\" does not include:\n(i) the legislative branch;\n(ii) the judicial branch; and\n(iii) an institution of higher education.\n(4) \"Significant lease terms\" includes the duration of the lease, the frequency of the periodic payments, a renewal clause, a purchase option, a cancellation clause, a repair and maintenance clause, and a restriction on use of the property.","path":["Title 63A Utah Government Operations Code","Chapter 63A-5b Administration of State Facilities","Part 63A-5b-8 Acquisitions of Real Property Interests"],"source_url":"https://le.utah.gov/xcode/Title63A/Chapter5b/63A-5b-S801.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"4a097f3bf8b7808c7fbcabeb409631d64f6ef1a3a1749312a3c2303908d9fa79","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-63a-5b-703","next":"us-ut/utah-code-63a-5b-802"},"notice":"GroundRules: Original legal text. Not legal advice."}