Utah Statutes
§ 17C-1-405 — Tax increment under a project area plan adopted on or after May 1, 2006.
Utah·Title 17C Limited Purpose Local Government Entities - Community Reinvestment Agency Act·Ch. 17C-1 Agency Operations·Part 17C-1-4 Project Area Funds
(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:
(2)(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
(2)(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
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Utah § 17C-1-405 (Tax increment under a project area plan adopted on or after May 1, 2006.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Chapter 350, 2016 General Session
Nearby Sections
15
§ 17C-1-1001
Definitions.§ 17C-1-1004
Plan hearing -- Implementation plan -- Use of an agency's property tax revenue -- Eminent domain.§ 17C-1-101
Title.§ 17C-1-102
Definitions.§ 17C-1-102.5
Project area created on or after May 10, 2016.§ 17C-1-103
Limitations on applicability of title -- Amendment of previously adopted project area plan.§ 17C-1-104
Actions not subject to land use laws.§ 17C-1-201.1
Title.§ 17C-1-201.5
Creation of agency -- Name change.§ 17C-1-202
Agency powers.§ 17C-1-203
Agency board -- Quorum.