Utah Code 17C-5-111. Agency required to transmit and record documentation after adoption of community reinvestment project area plan

17C-5-111. Agency required to transmit and record documentation after adoption of community reinvestment project area plan.
Within 30 days after the day on which a community legislative body adopts a community reinvestment project area plan under Section 17C-5-109, the agency shall:

(1)

record with the recorder of the county in which the community reinvestment project area is located a document containing:

Terms Used In Utah Code 17C-5-111

Assessment roll: means the same as that term is defined in Section 59-2-102. See Utah Code 17C-1-102
Board: means the governing body of an agency, as described in Section 17C-1-203. See Utah Code 17C-1-102
Community: means a county or municipality. See Utah Code 17C-1-102
Community legislative body: means the legislative body of the community that created the agency. See Utah Code 17C-1-102
Community reinvestment project area plan: means a project area plan adopted under 1. See Utah Code 17C-1-102
Land: includes :Utah Code 68-3-12.5
Project area: means the geographic area described in a project area plan within which the project area development described in the project area plan takes place or is proposed to take place. See Utah Code 17C-1-102
Project area plan: means an urban renewal project area plan, an economic development project area plan, a community development project area plan, or a community reinvestment project area plan that, after the project area plan's effective date, guides and controls the project area development. See Utah Code 17C-1-102
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
Tax increment: means the difference between:

(i)

the amount of property tax revenue generated each tax year by a taxing entity from the area within a project area designated in the project area plan as the area from which tax increment is to be collected, using the current assessed value of the property and each taxing entity's current certified tax rate as defined in Section 59-2-924; and

(ii)

the amount of property tax revenue that would be generated from that same area using the base taxable value of the property and each taxing entity's current certified tax rate as defined in Section 59-2-924. See Utah Code 17C-1-102

Taxing entity: means a public entity that:

(a)	levies a tax on property located within a project area; or

(b)	imposes a sales and use tax under Title 59, Chapter 12, Sales and Use Tax Act. See Utah Code 17C-1-102
(a)	the name of the community reinvestment project area;

(b)	a boundary description of the community reinvestment project area; and

(c)

(i)	a statement that the community legislative body adopted the community reinvestment project area plan; and

(ii)	the day on which the community legislative body adopted the community reinvestment project area plan;

(2)	transmit a copy of a description of the land within the community reinvestment project area and an accurate map or plat indicating the boundaries of the community reinvestment project area to the Utah Geospatial Resource Center created in Section 63A-16-505; and

(3)

for a community reinvestment project area plan that provides for the agency to receive tax increment, transmit a copy of a description of the land within the community reinvestment project area, a copy of the community legislative body ordinance adopting the community reinvestment project area plan, and an accurate map or plat indicating the boundaries of the community reinvestment project area to:

(a)	the auditor, recorder, county or district attorney, surveyor, and assessor of each county in which any part of the community reinvestment project area is located;

(b)	the officer or officers performing the function of auditor or assessor for each taxing entity that does not use the county assessment roll or collect the taxing entity’s taxes through the county;

(c)	the legislative body or governing board of each taxing entity;

(d)	the State Tax Commission; and

(e)	the State Board of Education.

Amended by Chapter 162, 2021 General Session
Amended by Chapter 345, 2021 General Session

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