(1) As used in this section: (a) "Direct financial benefit": (i) means any form of financial benefit that accrues to an individual directly, including: (A) compensation, commission, or any other form of a payment or increase of money; and (B) an increase in the value of a business or property; and (ii) does not include a financial benefit that accrues to the public generally. (b) "Family member" means a parent, spouse, sibling, child, or grandchild.

(a) "Direct financial benefit": (i) means any form of financial benefit that accrues to an individual directly, including: (A) compensation, commission, or any other form of a payment or increase of money; and (B) an increase in the value of a business or property; and (ii) does not include a financial benefit that accrues to the public generally.

(i) means any form of financial benefit that accrues to an individual directly, including: (A) compensation, commission, or any other form of a payment or increase of money; and (B) an increase in the value of a business or property; and

(A) compensation, commission, or any other form of a payment or increase of money; and

(B) an increase in the value of a business or property; and

(ii) does not include a financial benefit that accrues to the public generally.

(b) "Family member" means a parent, spouse, sibling, child, or grandchild.

(2) An individual may not serve as a voting member of the board or as executive director if: (a) the individual owns real property, other than a personal residence in which the individual resides, on or within five miles of the authority jurisdictional land, whether or not the ownership interest is a recorded interest; (b) a family member of the individual owns an interest in real property, other than a personal residence in which the family member resides, located on or within one-half mile of the authority jurisdictional land; or (c) the individual or a family member of the individual owns an interest in, is directly affiliated with, or is an employee or officer of a private firm, private company, or other private entity that the individual reasonably believes is likely to: (i) participate in or receive a direct financial benefit from the development of the authority jurisdictional land; or (ii) acquire an interest in or locate a facility on the authority jurisdictional land.

(a) the individual owns real property, other than a personal residence in which the individual resides, on or within five miles of the authority jurisdictional land, whether or not the ownership interest is a recorded interest;

(b) a family member of the individual owns an interest in real property, other than a personal residence in which the family member resides, located on or within one-half mile of the authority jurisdictional land; or

(c) the individual or a family member of the individual owns an interest in, is directly affiliated with, or is an employee or officer of a private firm, private company, or other private entity that the individual reasonably believes is likely to: (i) participate in or receive a direct financial benefit from the development of the authority jurisdictional land; or (ii) acquire an interest in or locate a facility on the authority jurisdictional land.

(i) participate in or receive a direct financial benefit from the development of the authority jurisdictional land; or

(ii) acquire an interest in or locate a facility on the authority jurisdictional land.

(3) Before taking office as a voting member of the board or accepting employment as executive director, an individual shall submit to the authority: (a) a statement verifying that the individual's service as a board member or employment as executive director does not violate Subsection (2); or (b) for an individual to whom Subsection 11-58-302(8) applies, the disclosure required under that subsection.

(a) a statement verifying that the individual's service as a board member or employment as executive director does not violate Subsection (2); or

(b) for an individual to whom Subsection 11-58-302(8) applies, the disclosure required under that subsection.

(4) (a) An individual may not, at any time during the individual's service as a voting member or employment with the authority, acquire, or take any action to initiate, negotiate, or otherwise arrange for the acquisition of, an interest in real property located on or within five miles of the authority jurisdictional land, if: (i) the acquisition is in the individual's personal capacity or in the individual's capacity as an employee or officer of a private firm, private company, or other private entity; and (ii) the acquisition will enable the individual to receive a direct financial benefit as a result of the development of the authority jurisdictional land. (b) Subsection (4)(a) does not apply to an individual's acquisition of, or action to initiate, negotiate, or otherwise arrange for the acquisition of, an interest in real property that is a personal residence in which the individual will reside upon acquisition of the real property.

(a) An individual may not, at any time during the individual's service as a voting member or employment with the authority, acquire, or take any action to initiate, negotiate, or otherwise arrange for the acquisition of, an interest in real property located on or within five miles of the authority jurisdictional land, if: (i) the acquisition is in the individual's personal capacity or in the individual's capacity as an employee or officer of a private firm, private company, or other private entity; and (ii) the acquisition will enable the individual to receive a direct financial benefit as a result of the development of the authority jurisdictional land.

(i) the acquisition is in the individual's personal capacity or in the individual's capacity as an employee or officer of a private firm, private company, or other private entity; and

(ii) the acquisition will enable the individual to receive a direct financial benefit as a result of the development of the authority jurisdictional land.

(b) Subsection (4)(a) does not apply to an individual's acquisition of, or action to initiate, negotiate, or otherwise arrange for the acquisition of, an interest in real property that is a personal residence in which the individual will reside upon acquisition of the real property.

(5) (a) A voting member or nonvoting member of the board or an employee of the authority may not receive a direct financial benefit from the development of authority jurisdictional land. (b) For purposes of Subsection (5)(a), a direct financial benefit does not include: (i) expense reimbursements; (ii) per diem pay for board member service, if applicable; or (iii) an employee's compensation or benefits from employment with the authority.

(a) A voting member or nonvoting member of the board or an employee of the authority may not receive a direct financial benefit from the development of authority jurisdictional land.

(b) For purposes of Subsection (5)(a), a direct financial benefit does not include: (i) expense reimbursements; (ii) per diem pay for board member service, if applicable; or (iii) an employee's compensation or benefits from employment with the authority.

(i) expense reimbursements;

(ii) per diem pay for board member service, if applicable; or

(iii) an employee's compensation or benefits from employment with the authority.

(6) Nothing in this section may be construed to affect the application or effect of any other code provision applicable to a board member or employee relating to ethics or conflicts of interest.