§ 11-58-600.7 — Limit on tax differential the authority may receive from authority jurisdictional land.

The authority may not receive:
(1) a taxing entity's portion of property tax differential generated from an area that is part of the authority jurisdictional land and included within a community reinvestment project area under a community reinvestment project area plan, as defined in Section 17C-1-102, adopted before October 1, 2018, if the taxing entity has, before October 1, 2018, entered into a fully executed, legally binding agreement under which the taxing entity agrees to the use of the taxing entity's tax increment, as defined in Section 17C-1-102, under the community reinvestment project area plan; or
(2) property tax differential from a parcel of land:

(2)(a) that is part of the authority jurisdictional land;
(2)(b) that was substantially developed before December 1, 2018;
(2)(c) for which a certificate of occupancy was issued before December 1, 2018; and
(2)(d) that is identified in a list that the municipality in which the land is located provides to the authority and the county assessor by April 1, 2020.

Legislative History

Enacted by Chapter 259, 2023 General Session