Utah Code 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

Terms Used In Utah Code 11-58-600.7

Authority: means the Utah Inland Port Authority, created in Section 11-58-201. See Utah Code 11-58-102
Authority jurisdictional land: means land within the authority boundary delineated:

(a)

in the electronic shapefile that is the electronic component of H. See Utah Code 11-58-102

Land: includes :Utah Code 68-3-12.5

Project area: means :

(a)	the authority jurisdictional land, subject to Section 11-58-605; or

(b)

land outside the authority jurisdictional land, whether consisting of a single contiguous area or multiple noncontiguous areas, described in a project area plan or draft project area plan, where the development project set forth in the project area plan or draft project area plan takes place or is proposed to take place. See Utah Code 11-58-102

Project area plan: means a written plan that, after its effective date, guides and controls the development within a project area. See Utah Code 11-58-102

Property tax: includes a privilege tax and each levy on an ad valorem basis on tangible or intangible personal or real property. See Utah Code 11-58-102

(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

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