{"data":{"id":"us-ut/utah-code-17c-5-113","jurisdiction":"us-ut","citation":"Utah Code § 17C-5-113","heading":"Expedited community reinvestment project area plan -- Hearing and notice requirements.","body":"(1) As used in this section:\n(a) \"Qualified business entity\" means a business entity that:\n(i) has a primary market for the qualified business entity's goods or services outside of the state; and\n(ii) is not primarily engaged in retail sales.\n(b) \"Tax increment incentive\" means the portion of an agency's tax increment that is paid to a qualified business entity for the purpose of implementing a community reinvestment project area plan.\n(2) An agency and a qualified business entity may, in accordance with Subsection (3), enter into an agreement that allows the qualified business entity to receive a tax increment incentive.\n(3) An agreement described in Subsection (2) shall set annual postperformance targets for:\n(a) capital investment within the community reinvestment project area;\n(b) the number of new jobs created within the community reinvestment project area;\n(c) the average wage of the jobs described in Subsection (3)(b) that is at least 110% of the prevailing wage of the county within which the community reinvestment project area is located; and\n(d) the amount of local vendor opportunity generated by the qualified business entity.\n(4) A qualified business entity may only receive a tax increment incentive:\n(a) if the qualified business entity complies with the agreement described in Subsection (3);\n(b) on a postperformance basis; and\n(c) on an annual basis after the agency receives tax increment from a taxing entity.\n(5) An agency may create or amend a community reinvestment project area plan for the purpose of providing a tax increment incentive without complying with the requirements described in Chapter 1, Part 8, Hearing and Notice Requirements, if:\n(a) the agency:\n(i) holds a public hearing to consider the need to create or amend a community reinvestment project area plan on an expedited basis;\n(ii) publishes notice for the community, as a class A notice under Section 63G-30-102, for at least 14 days before the day on which the public hearing described in Subsection (5)(a)(i) is held; and\n(iii) at the hearing described in Subsection (5)(a)(i), adopts a resolution to create or amend the community reinvestment project area plan on an expedited basis;\n(b) all record property owners within the existing or proposed community reinvestment project area plan give written consent; and\n(c) each taxing entity affected by the tax increment incentive consents and enters into an interlocal agreement with the agency authorizing the agency to pay a tax increment incentive to the qualified business entity.","path":["Title 17C Limited Purpose Local Government Entities - Community Reinvestment Agency Act","Chapter 17C-5 Community Reinvestment","Part 17C-5-1 Community Reinvestment Project Area Plan"],"source_url":"https://le.utah.gov/xcode/Title17C/Chapter5/17C-5-S113.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"4598a52e5920820a383f22bc26d0a898904c39d3428f93997cd76bac32046236","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-17c-5-112","next":"us-ut/utah-code-17c-5-201"},"notice":"GroundRules: Original legal text. Not legal advice."}