2006 Utah Code - 17C-1-404 — Tax increment under a post-June 30, 1993 project area plan.

     17C-1-404.   Tax increment under a post-June 30, 1993 project area plan.
     (1) This section applies to tax increment under a post-June 30, 1993 project area plan adopted before May 1, 2006, only.
     (2) An agency 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.

Renumbered and Amended by Chapter 359, 2006 General Session