17C-1-1004. Plan hearing -- Implementation plan -- Use of an agency's property tax revenue -- Eminent domain.

475 words·~2 min read·/ut/title-17c/chapter-1/17c-1-1004

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 5/5/2021

(1)Before an agency may levy a property tax, an agency board shall hold a plan hearing in accordance with Chapter 1, Part 8, Hearing and Notice Requirements , to:

(a)adopt an implementation plan that:

(i)contains a boundary description and a map of the geographic area within which the agency will use the agency's property tax revenue;

(ii)contains a general description of the existing land uses, zoning, infrastructure conditions, population densities, and demographics of the area described in Subsection (1)(b)(i) ;

(iii)describes the physical, social, and economic conditions that exist in the area described in Subsection (1)(b)(i) ;

(iv)describes the goals and strategies that will guide the agency's use of property tax revenue;

(v)shows how agency-wide project development will further the purposes of this title;

(vi)is consistent with the general plan of the community that created the agency and shows that agency-wide project development will conform to the community's general plan;

(vii)generally describes the type of financial assistance and tools that the agency anticipates providing to participants;

(viii)includes an analysis or description of the anticipated public benefits resulting from agency-wide project development, including benefits to economic activity and taxing entities' tax bases;

(ix)includes any identified geographic target areas within which the agency will focus investment; and

(x)includes other information that the agency determines to be necessary or advisable;

(b)inform the public about:

(i)the amount of revenue that the agency will receive as property tax revenue that a participating taxing entity would have otherwise received;

(ii)the property tax rate that the agency will levy;

(iii)any changes to the use of revenue; and

(iv)how the agency will be using property tax revenue under the implementation plan; and

(c)allow individuals present at the plan hearing to comment on the proposed property tax.

(2)An agency that levies a property tax under this part shall allocate an amount of property tax revenue for housing:

(a)in an amount that is the same as the agency's housing allocation under Section 17C-5-307 before entering into an interlocal agreement under Section 17C-1-1002 ; and

(b)for a period of time that is the same as the agency's project area funds collection period before entering into an interlocal agreement under Section 17C-1-1002 .

(a)Except as provided in Subsection (3)(b) , an agency that levies a property tax under this part may not use eminent domain to acquire property for agency-wide project development.

(b)An agency that levies a property tax under this part may use eminent domain for an urban renewal project area or a community reinvestment project area in accordance with Part 9, Eminent Domain .

Enacted by Chapter 214 , 2021 General Session