2006 Utah Code - 17C-2-202 — Combined incremental value -- Restriction against adopting an urban renewal project area budget -- Taxing entity committee may waive restriction.

     17C-2-202.   Combined incremental value -- Restriction against adopting an urban renewal project area budget -- Taxing entity committee may waive restriction.
     (1) Except as provided in Subsection (2), an agency may not adopt an urban renewal project area budget if, at the time the urban renewal project area budget is being considered, the combined incremental value for the agency exceeds 10% of the total taxable value of property within the agency's boundaries in the year that the urban renewal project area budget is being considered.
     (2) A taxing entity committee may waive the restrictions imposed by Subsection (1).

Amended by Chapter 254, 2006 General Session
Renumbered and Amended by Chapter 359, 2006 General Session