Utah Code § 17C-1-405
Tax increment under a project area plan adopted on or after May 1, 2006
Utah · Utah Code Title 17C — Limited Purpose Local Government Entities - Community Reinvestment Agency Act · Status: effective
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- Citation
- Utah Code § 17C-1-405, Tax increment under a project area plan adopted on or after May 1, 2006, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2329882
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Full text
(1) This section applies to tax increment under a project area plan adopted on or after May 1, 2006, and before May 10, 2016.
(2) Subject to the approval of the taxing entity committee, a board may provide in the urban renewal or economic development project area budget for the agency to be paid:
(a) for an urban renewal project area plan that proposes development of an inactive industrial site or inactive airport site, at least 60% of tax increment for at least 20 years; or
(b) for each other project, any percentage of tax increment up to 100% or any specified dollar amount of tax increment for any period of time.
(3) A resolution or interlocal agreement relating to an agency's use of tax increment for a community development project area plan may provide for the agency to be paid any percentage of tax increment up to 100% or any specified dollar amount of tax increment for any period of time.