2006 Utah Code - 63-38f-1301 — Purpose.

     63-38f-1301.   Purpose.
     (1) The Legislature finds that:
     (a) the fostering and development of industry in Utah is a state public purpose necessary to assure the welfare of its citizens, the growth of its economy, and adequate employment for its citizens; and
     (b) Utah loses prospective high paying jobs, economic impacts, and corresponding incremental new state revenues to competing states due to a wide variety of competing economic development incentives offered by those states.
     (2) This part is enacted to address the loss of new economic growth in Utah and the corresponding loss of incremental new state revenues by providing tax increment financial incentives to attract new commercial projects in development zones located on or contiguous to airports in the state.

Renumbered and Amended by Chapter 148, 2005 General Session