Utah § 17C-5-113 Expedited community reinvestment project area plan -- Hearing and notice requirements.

Utah Statutes

§ 17C-5-113 — Expedited community reinvestment project area plan -- Hearing and notice requirements.

Utah § 17C-5-113

Title 17CLimited Purpose Local Government Entities - Community Reinvestment Agency Act

Ch. 17C-5Community Reinvestment

Part 17C-5-1Community Reinvestment Project Area Plan

This text of Utah § 17C-5-113 (Expedited community reinvestment project area plan -- Hearing and notice requirements.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 17C-5-113 (2026).

Text

(1)As used in this section:

(1)(a) "Qualified business entity" means a business entity that:

(1)(a)(i) has a primary market for the qualified business entity's goods or services outside of the state; and

(1)(a)(ii) is not primarily engaged in retail sales.

(1)(b) "Tax increment incentive" means the portion of an agency's tax increment that is paid to a qualified business entity for the purpose of implementing a community reinvestment project area plan.

(2)An agency and a qualified business entity may, in accordance with Subsection (3), enter into an agreement that allows the qualified business entity to receive a tax increment incentive.

(3)An agreement described in Subsection (2) shall set annual postperformance targets for:

(3)(a) capital investment within the community reinvestment

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(1) As used in this section:

(1)(a) "Qualified business entity" means a business entity that:
(1)(a)(i) has a primary market for the qualified business entity's goods or services outside of the state; and
(1)(a)(ii) is not primarily engaged in retail sales.
(1)(b) "Tax increment incentive" means the portion of an agency's tax increment that is paid to a qualified business entity for the purpose of implementing a community reinvestment project area plan.
(2) An agency and a qualified business entity may, in accordance with Subsection (3), enter into an agreement that allows the qualified business entity to receive a tax increment incentive.
(3) An agreement described in Subsection (2) shall set annual postperformance targets for:

(3)(a) capital investment within the community reinvestment project area;
(3)(b) the number of new jobs created within the community reinvestment project area;
(3)(c) the average wage of the jobs described in Subsection (3)(b) that is at least 110% of the prevailing wage of the county within which the community reinvestment project area is located; and
(3)(d) the amount of local vendor opportunity generated by the qualified business entity.
(4) A qualified business entity may only receive a tax increment incentive:

(4)(a) if the qualified business entity complies with the agreement described in Subsection (3);
(4)(b) on a postperformance basis; and
(4)(c) on an annual basis after the agency receives tax increment from a taxing entity.
(5) An agency may create or amend a community reinvestment project area plan for the purpose of providing a tax increment incentive without complying with the requirements described in Chapter 1, Part 8, Hearing and Notice Requirements, if:

(5)(a) the agency:
(5)(a)(i) holds a public hearing to consider the need to create or amend a community reinvestment project area plan on an expedited basis;
(5)(a)(ii) publishes notice for the community, as a class A notice under Section 63G-30-102, for at least 14 days before the day on which the public hearing described in Subsection (5)(a)(i) is held; and
(5)(a)(iii) at the hearing described in Subsection (5)(a)(i), adopts a resolution to create or amend the community reinvestment project area plan on an expedited basis;
(5)(b) all record property owners within the existing or proposed community reinvestment project area plan give written consent; and
(5)(c) each taxing entity affected by the tax increment incentive consents and enters into an interlocal agreement with the agency authorizing the agency to pay a tax increment incentive to the qualified business entity.