Around 2:30 p.m. Thursday Swallow made the announcement at the Capitol building.
Swallow maintained that he has broken no laws and it's time for the "madness to stop."
Swallow has been cleared by the Department of Justice and the Utah bar of any wrong doing, but investigations continue with the Lt. Governor's office, the state and the legislature. The Lt. Governor's investigation is centered around possible elections violations.
"I'm heartbroken. All I wanted to do was serve this state," said Swallow.