(1) There is created the Economic Development Council.
(2) The council consists of the following voting members:
(a) the governor, or the governor's designee, who shall be the chair of the council;
(b) the president of the Senate or the president's designee;
(c) the speaker of the House of Representatives or the speaker's designee;
(d) a member appointed by the Utah Inland Port Authority board created in Section 11-58-301, to represent the interests of the Utah Inland Port Authority;
(e) a member appointed by the Point of the Mountain State Land Authority board created in Section 11-59-301, to represent the interests of the Point of the Mountain State Land Authority;
(f) a member appointed by the Utah Fairpark Area Investment and Restoration District board created in Section 11-70-301, to represent the interests of the Utah Fairpark Area Investment and Restoration District;
(g) a member appointed by the Military Installation Development Authority board created in Section 63H-1-301, to represent the interests of the Military Installation Development Authority;
(h) the director of the School and Institutional Trust Lands Administration created in Section 53C-1-201 or the director's designee;
(i) a member to represent the interests of municipalities, appointed by the Utah League of Cities and Towns; and
(j) a member to represent the interests of counties, appointed by the Utah Association of Counties.
(3)
(a) A majority of council members, not including a vacancy, constitutes a quorum for the purpose of conducting council business.
(b) The action of a majority of a quorum constitutes the action of the council.
(4) The office shall provide office space and staff support for the council.
(5)
(a) A council member may not receive compensation or benefits for the member's service on the council, but may receive per diem and travel expenses in accordance with:
(i) Sections 63A-3-106 and 63A-3-107; and
(ii) rules made by the Division of Finance in accordance with Sections 63A-3-106 and 63A-3-107.
(b) Compensation and expenses of a council member who is a legislator are governed by Section 36-2-2 and Legislative Joint Rules, Title 5, Legislative Compensation and Expenses.