11-58-600.7. Limit on tax differential the authority may receive from authority jurisdictional land.
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/ut/title-11/chapter-58/11-58-600-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 3/14/2023
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:
(a)that is part of the authority jurisdictional land;
(b)that was substantially developed before December 1, 2018;
(c)for which a certificate of occupancy was issued before December 1, 2018; and
(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.
Enacted by Chapter 259 , 2023 General Session