§ 72-2-201 — Definitions.

Utah § 72-2-201

• Jurisdiction: Utah
• Title 72: Transportation Code
• Ch. 72-2: Transportation Finances Act
• Part 72-2-2: State Infrastructure Bank Fund

Text

As used in this part:
(1) "Fund" means the State Infrastructure Bank Fund created under Section 72-2-202.
(2) "Infrastructure assistance" means any use of fund money, except an infrastructure loan, to provide financial assistance for transportation projects or publicly owned infrastructure projects, including:

(2)(a) capital reserves and other security for bond or debt instrument financing; or
(2)(b) any letters of credit, lines of credit, bond insurance, or loan guarantees obtained by a public entity to finance transportation projects.
(3) "Infrastructure loan" means a loan of fund money to finance a transportation project or publicly owned infrastructure project.
(4) "Public entity" means a state agency, county, municipality, special district, special service district, an intergovernmental entity organized under state law, or the military installation development authority created in Section 63H-1-201.
(5) "Publicly owned infrastructure project" means a project to improve sewer or water infrastructure that is owned by a public entity.
(6) "Transportation project":

(6)(a) means a project:
(6)(a)(i) to improve a state or local highway;
(6)(a)(ii) to improve a public transportation facility or nonmotorized transportation facility;
(6)(a)(iii) to construct or improve parking facilities;
(6)(a)(iv) that is subject to a transportation reinvestment zone agreement pursuant to Section 11-13-227 if the state is party to the agreement; or
(6)(a)(v) that is part of a housing and transit reinvestment zone created pursuant to Title 63N, Chapter 3, Part 6, Housing and Transit Reinvestment Zone Act;
(6)(b) includes the costs of acquisition, construction, reconstruction, rehabilitation, equipping, and fixturing; and
(6)(c) may only include a project if the project is part of:
(6)(c)(i) the statewide long range plan;
(6)(c)(ii) a regional transportation plan of the area metropolitan planning organization if a metropolitan planning organization exists for the area; or
(6)(c)(iii) a local government general plan or economic development initiative.

Legislative History

Amended by Chapter 16, 2023 General Session