63N-23-205. Property tax increment protections.

350 words·~2 min read·/ut/title-63n/chapter-23/63n-23-205·

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

Effective 5/6/2026

(1)Upon petition by a participating taxing entity or on the initiative of the housing and transit reinvestment zone committee creating a housing and transit reinvestment zone, a housing and transit reinvestment zone may suspend or terminate the collection of property tax increment in a housing and transit reinvestment zone if the housing and transit reinvestment zone committee determines, by clear and convincing evidence, presented in a public meeting of the housing and transit reinvestment zone committee, that:

(a)a substantial portion of the property tax increment collected in the housing and transit reinvestment zone has not or will not be used for the purposes provided in Section 63N-23-203 ; and

(i)the housing and transit reinvestment zone and related public infrastructure district has no indebtedness secured by funds provided for in this chapter; or

(ii)the housing and transit reinvestment zone and related public infrastructure district has no binding financial obligations secured by this chapter.

(2)A housing and transit reinvestment zone may not collect property tax increment in excess of the property tax increment projections or limitations set forth in the housing and transit reinvestment zone proposal and disclosed in accordance with Title 59, Chapter 36, Part 2, Pre-increment Disclosure and Reporting.

(3)The agency administering the property tax increment collected in a housing and transit reinvestment zone under Subsection 63N-23-203(2)(c) , shall have standing in a court with proper jurisdiction to enforce provisions of the housing and transit reinvestment zone, participation agreements, and other agreements for the use of the property tax increment collected.

(4)The agency administering property tax increment from a housing and transit reinvestment zone under Subsection 63N-23-203(2)(c) that is collecting property tax increment shall follow the requirements described in Title 59, Chapter 36, Tax Increment Financing Reporting, and the audit requirements described in Sections 17C-1-604 and 17C-1-605 .

(5)For each housing and transit reinvestment zone collecting tax increment within a county, the county auditor shall follow the reporting requirement found in Section 17C-1-606 .

Renumbered and Amended by Chapter 94 , 2026 General Session