17C-5-306. Amending a community reinvestment project area budget.

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

Effective 5/6/2026

(1)Except as provided in Section 17C-1-1002 and before a project area funds collection period ends, an agency may amend a community reinvestment project area budget in accordance with this section.

(2)To amend a community reinvestment project area budget, an agency shall:

(a)provide notice and hold a public hearing on the proposed amendment in accordance with Chapter 1, Part 8, Hearing and Notice Requirements ;

(i)if the community reinvestment project area budget required approval from a taxing entity committee, obtain the taxing entity committee's approval; or

(ii)if the community reinvestment project area budget required an interlocal agreement with a taxing entity, obtain approval from the taxing entity that is a party to the interlocal agreement; and

(c)at the public hearing described in Subsection (2)(a) or at a subsequent board meeting, by resolution, adopt the community reinvestment project area budget amendment.

(3)If an agency proposes a community reinvestment project area budget amendment under which the agency is paid a greater proportion of tax increment from the community reinvestment project area than provided under the community reinvestment project area budget, the notice described in Subsection (2)(a) shall state:

(a)the percentage of tax increment paid under the community reinvestment project area budget; and

(b)the proposed percentage of tax increment paid under the community reinvestment project area budget amendment.

(a)If an agency proposes a community reinvestment project area budget amendment that extends a project area funds collection period, before a taxing entity committee or taxing entity may provide the taxing entity committee's or taxing entity's approval described in Subsection (2)(b) , the agency shall provide to the taxing entity committee or taxing entity:

(i)the reasons why the extension is required;

(ii)a description of the project area development for which project area funds received by the agency under the extension will be used;

(iii)a statement of whether the project area funds received by the agency under the extension will be used within an approved project area or a proposed project area; and

(iv)a revised community reinvestment project area budget that includes:

(A)the annual and total amounts of project area funds that the agency receives under the extension; and

(B)the number of years that are added to each project area funds collection period under the extension.

(b)With respect to an amendment described in Subsection (4)(a) , a taxing entity committee or taxing entity may consent to:

(i)allow an agency to use project area funds received under an extension within a different project area from which the project area funds are generated; or

(ii)alter the base taxable value in connection with a community reinvestment project area budget extension.

(5)If an agency proposes a community reinvestment project area budget amendment that reduces the base taxable value of the project area due to the removal of a parcel under Subsection 17C-5-112(5)(b) , an agency may amend a project area budget without:

(a)complying with Subsection (2)(a) ; and

(b)obtaining taxing entity committee or taxing entity approval described in Subsection (2)(b) .

(a)A person may contest an agency's adoption of a community reinvestment project area budget amendment within 30 days after the day on which the agency adopts the community reinvestment project area budget amendment.

(b)After the 30-day period described in Subsection (6)(a) , a person may not contest:

(i)the agency's adoption of the community reinvestment project area budget amendment;

(ii)a payment to the agency under the community reinvestment project area budget amendment; or

(iii)the agency's use of project area funds received under the community reinvestment project area budget amendment.

Amended by Chapter 141 , 2026 General Session