{"data":{"id":"us-ut/utah-code-17c-1-1002","jurisdiction":"us-ut","citation":"Utah Code § 17C-1-1002","heading":"Transferring project area incremental revenue -- Agency may levy a property tax.","body":"(1) An agency and an eligible taxing entity may enter into an interlocal agreement for the purpose of transferring all or a portion of the eligible taxing entity's project area incremental revenue.\n(2) An agency shall ensure that an interlocal agreement described in Subsection (1):\n(a) identifies each project area that is subject to the interlocal agreement;\n(b) is adopted by the board and the taxing entity in accordance with Section 17C-1-1003;\n(c) for each project area:\n(i) states the amount of project area incremental revenue that the eligible taxing entity agrees to transfer to the agency;\n(ii) states the year in which the eligible taxing entity will transfer the amount described in Subsection (2)(c)(i); and\n(iii) for the year described in Subsection (2)(c)(ii), requires the agency to add the project area incremental revenue transferred in the agency's budget;\n(d) includes a copy of the implementation plan described in Section 17C-1-1004;\n(e) requires the agency to dissolve, in accordance with Section 17C-1-702, any project area:\n(i) that is subject to the interlocal agreement; and\n(ii) for which the project area funds collection period will expire; and\n(f) is filed with the county auditor, the State Tax Commission, and the eligible taxing entity.\n(3) If an agency and an eligible taxing entity enter into an interlocal agreement under this section:\n(a) subject to Subsection (4) and Section 17C-1-1004, the agency may levy a property tax on taxable property within the agency's geographic boundaries; and\n(b) except as provided in Subsection (5), the agency may not:\n(i) create a new community reinvestment project area within the taxing entity's geographic boundaries; or\n(ii) amend a project area plan or budget if the amendment:\n(A) enlarges the project area from which tax increment is collected;\n(B) permits the agency to receive a greater amount of tax increment; or\n(C) extends the project area funds collection period.\n(4)\n(a) An agency may levy a property tax for a fiscal year that:\n(i) is after the year in which the agency receives project area incremental revenue; and\n(ii) begins on or after the January 1 on which the agency has authority to impose a property tax under this section.\n(b) An agency board shall calculate the agency's certified tax rate in accordance with Section 59-2-924.\n(c) An agency may levy a property tax rate that exceeds the agency's certified rate only if the agency complies with Sections 59-2-919 through 59-2-923.\n(5) For a cooperative development project or an economic development project, an agency may, in accordance with Chapter 5, Community Reinvestment:\n(a) create a new community reinvestment project area; or\n(b) amend a community reinvestment project area plan or budget.","path":["Title 17C Limited Purpose Local Government Entities - Community Reinvestment Agency Act","Chapter 17C-1 Agency Operations","Part 17C-1-10 Agency Taxing Authority"],"source_url":"https://le.utah.gov/xcode/Title17C/Chapter1/17C-1-S1002.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"5653506dcf47c02b1d5e8634092354b93a6e99457c24972ae8af4cfeadc0023e","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-17c-1-1001","next":"us-ut/utah-code-17c-1-1003"},"notice":"GroundRules: Original legal text. Not legal advice."}