Section 11-13-318 - Notice of decommissioning or disposal of project entity assets(1) As used in this section:(a) "Alternative permit" means the same as that term is defined in Section 11-13-320.(b) "Decommissioning" means to remove an electrical generation facility from active service.(c) "Disposal" means the sale, transfer, dismantling, or other disposition of a project entity's assets.(d) "Division" means the Division of Air Quality created in Section 19-1-105.(e) "Fair market value" means the same as that term is defined in Section 79-6-405.(f)(i) "Project entity asset" means a project entity's: (D) essential equipment, including turbines, generators, transformers, and transmission lines.(ii) "Project entity asset" does not include an asset that is not essential for the generation of electricity in the project entity's coal-powered electrical generation facility.(2) A project entity shall provide a notice of decommissioning or disposal to the Legislative Management Committee at least 180 days before: (a) the disposal of any project entity assets; or(b) the decommissioning of the project entity's coal-powered electrical generation facility.(3) The notice of decommissioning or disposal described in Subsection (2) shall include:(a) the date of the intended decommissioning or disposal;(b) a description of the project entity's coal-powered electrical generation facility intended for decommissioning or any project entity asset intended for disposal; and(c) the reasons for the decommissioning or disposal.(4) A project entity may not intentionally prevent the functionality of the project entity's existing coal-powered electrical generation facility.(5) Notwithstanding the requirements in Subsections (2) through (4), a project entity may take any action necessary to transition to a new electrical generation facility powered by natural gas, hydrogen, or a combination of natural gas and hydrogen, including any action that has been approved by a permitting authority. (6) A project entity shall provide the state the option to purchase for fair market value a project entity asset intended for decommissioning, with the option remaining open for at least two years, beginning on July 2, 2025.Amended by Chapter (number not assigned at time of publication), 2024SP3 General Session ,§ 1, eff. 6/21/2024.Amended by Chapter TBD, 2024 General Session ,§ 1, eff. 5/1/2024.Added by Chapter 195, 2023 General Session ,§ 1, eff. 5/3/2023.