(1) As used in this part, "living historic landmark" means a cultural event:
(a) that is significant to the history, culture, economy, and character of the state;
(b) that is unique to the state;
(c) that is first in the nation;
(d) that has occurred in the state at least annually for no less than 65 years;
(e) for any designation after May 1, 2024, that is nominated by the Legislative Management Committee for the Legislature's consideration as a living historic landmark; and
(f) that the Legislature designates as a living historic landmark in Section 63G-1-1002.
(2) A living historic landmark is not owned or managed by the state.