Utah Code Title 11. Cities, Counties, and Local Taxing Units § 11-58-603. Use of authority money for business recruitment incentive

(a) “Business recruitment incentive” means the post-performance payment of property tax differential as an incentive for development within a project area, as provided in this section.

(b) “Incentive application” means an application for a business recruitment incentive.

(c) “Tax differential parcel” means a parcel of land where development activity occurs.

(a) the requirements for a person to qualify for a business recruitment incentive;

(b) the application timeline, documentation requirements, and approval criteria applicable to an incentive application; and

(c) the standards and criteria for approval of an incentive application.

(4)(a) Subject to Subsection (4)(b), a person may qualify for a business recruitment incentive if:

(b) A person may not qualify for a business recruitment incentive if the person's development project:

(a) generated from a tax differential parcel and paid to the authority; and

(b) for a specified period of time.