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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) This section applies to tax increment under a post-June 30, 1993, project area plan adopted before May 1, 2006, only.
(2) A board may provide in the project area budget for the agency to be paid:
(a) if 20% of the project area budget is allocated for housing under Section 17C-2-203:
(i) 100% of annual tax increment for 15 years;
(ii) 75% of annual tax increment for 24 years; or
(iii) if approved by the taxing entity committee, any percentage of tax increment up to 100%, or any specified dollar amount, for any period of time; or
(b) if 20% of the project area budget is not allocated for housing under Section 17C-2-203:
(i) 100% of annual tax increment for 12 years;
(ii) 75% of annual tax increment for 20 years; or
(iii) if approved by the taxing entity committee, any percentage of tax increment up to 100%, or any specified dollar amount, for any period of time.
Cite this article: FindLaw.com - Utah Code Title 17C. Limited Purpose Local Government Entities--Community Development and Renewal Agencies Act § 17C-1-404. Tax increment under a post-June 30, 1993, project area plan - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-17c-limited-purpose-local-government-entities-community-development-and-renewal-agencies-act/ut-code-sect-17c-1-404/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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