SALT LAKE CITY — A bill inspired by the financial travails of the Utah Telecommunications Open Infrastructure Agency (UTOPIA) putting limits on using proceeds from a bond for operating expenses for more than a year has passed the Senate.
SB 172, sponsored by Sen. John Valentine, R-Orem, passed the Senate on Wednesday and now advances to the House.
The Orem lawmaker likened using a bond for operational expenses to paying for a mortgage by using a credit card.
Valentine said the bill will not go back and undo UTOPIA, because the rules would go into effect March 14 this year.
Layton, Tremonton, Brigham City, Perry and Centerville are all members of the fiber network, which has struggled financially since its inception almost a decade ago.