Permitting higher education institutions enter agreements with non-profit organizations for economic development and job creation

Article 12 title was modified to add 'ECONOMIC DEVELOPMENT, AND ATHLETICS AGREEMENTS' to reflect expanded scope beyond just research and development.

New subsection (c) added to Section 18B-12-2 to include legislative findings supporting the use of private corporations for athletics-related operational, economic, fiscal, and educational development activities.

Added explicit authorization for agreements focused on economic development and job creation, not just research purposes.

Clarified that corporations must qualify as 501(c) exempt organizations under the Internal Revenue Code to be eligible for these agreements.

Added specific provisions exempting corporate director meetings from certain state code requirements and clarifying that corporate assets are not subject to specific state provisions.

Modified §18B-12-2 to explicitly authorize governing boards to contract with corporations established for economic development purposes, not just research.

Added new subsections to §18B-12-11 that detail the powers and arrangements permitted for economic development entities.

Removed official enrolled formatting elements like page numbers, certification signatures, and session headers while adding website navigation links and footer content.

Simplified section references in definitions from '§18B-12-4' to 'section four §18B-12-4' and similar formatting adjustments in other sections.

Changed the bill date from 'Passed April 12, 2025' to 'Reported March 25, 2025' in the committee substitute header.

Added new subsection (c) to §18B-12-2 explicitly allowing agreements for intercollegiate athletics operational, economic, fiscal, and educational development activities.

Updated the article title to include 'Economic development, and athletics AGREEMENTS' to reflect the expanded scope.

Added standard enrolled bill certification language, signature lines for legislative officers, and governor signature block required for final passage.

Removed introductory draft markings, committee referral notes, and draft bill numbering that were present in the introduced version.