Title 63N, Title 63N: Economic Opportunity Act

63N-24-201. Division -- Functions. (1) In addition to any other functions the governor or Legislature may assign: the division shall: provide a clearinghouse of information for federal, state, and local housing assistance programs; establish, in cooperation with political subdivi…

63N-24-202. Moderate income housing plan coordination. (1) Within appropriations from the Legislature, the division shall establish a program to assist municipalities to comply with the moderate income housing requirements described in Sectionand counties to comply with the moder…

63N-24-203. Moderate income housing plan reporting requirements. (1) As used in this section: "Affordable housing" means, as determined by the division, the number of housing units within a county or municipality where a household whose income is at or below 50% of area median in…

63N-24-301. Definitions. As used in this part: (1) "Affordable housing" means housing occupied or reserved for occupancy by households whose incomes are at or below certain income requirements at rental rates affordable to such households. (2) "Board" means the Housing Board crea…

63N-24-302. Olene Walker Housing Loan Fund -- Creation -- Administration. (1) There is created an enterprise fund known as the Olene Walker Housing Loan Fund, administered by the housing coordinator or the housing coordinator's designee. The division is the administrator of the f…

63N-24-303. Housing loan fund board -- Duties -- Expenses. (1) There is created the Olene Walker Housing Loan Fund Board. (2) The board is composed of 14 voting members. The governor shall appoint the following members to four-year terms: two members from local governments, of wh…

63N-24-304. Distribution of fund money. (1) As used in this section: "Community" means the same as that term is defined in Section. 17C-1-102 "Income targeted housing" means the same as that term is defined in Section. 17C-1-102 (2) The housing coordinator shall: make grants and …

63N-24-305. Activities authorized to receive fund money -- Powers of the state housing coordinator. At the direction of the board, the housing coordinator may: (1) provide fund money to any of the following activities: the acquisition, rehabilitation, or new construction of low-i…

63N-24-306. Authority of the state housing coordinator. The housing coordinator, with the approval of the board, may grant or lend fund money to a housing sponsor.

63N-24-307. Application process and priorities. (1) In each calendar year that money is available from the fund for distribution by the housing coordinator under the direction of the board, the housing coordinator shall, at least once in that year, announce a grant and loan appli…

63N-24-308. Predevelopment grants. (1) The housing coordinator may, under the direction of the board, award one or more predevelopment grants to a nonprofit or for-profit entity: in preparation for a project that: involves the construction of moderate income housing units; and is…

63N-24-309. Annual accounting. (1) The housing coordinator shall monitor the activities of recipients of grants and loans issued under this part on a yearly basis to ensure compliance with the terms and conditions imposed on the recipient by the housing coordinator with the appro…

63N-24-310. Economic Revitalization and Investment Fund. (1) There is created an enterprise fund known as the "Economic Revitalization and Investment Fund." (2) The Economic Revitalization and Investment Fund consists of money from the following: money appropriated to the account…

63N-24-311. Rural Housing Fund. (1) There is created an enterprise fund known as the "Rural Housing Fund." (2) The Rural Housing Fund consists of money from the following: money appropriated to the account by the Legislature; private contributions; donations or grants from public…

63N-24-312. Housing loan fund board approval. (1) The board shall review the project applications described in Sectionsand. 63N-24-310 63N-24-311 (2) The board may approve a project that meets the requirements of Sectionto receive funds from the Economic Revitalization and Invest…

63N-24-313. Activities authorized to receive account money. The housing coordinator may distribute funds from the Economic Revitalization and Investment Fund and the Rural Housing Fund for any of the following activities undertaken as part of an approved project: (1) the acquisit…

63N-24-314. Repayment of funds. (1) Upon the earlier of 30 years from the date an approved project is placed in service or the sale or transfer of the affordable housing units acquired, constructed, or rehabilitated as part of an approved project funded under Subsection, the hous…

63N-24-315. Annual accounting. (1) The housing coordinator shall monitor the activities of recipients of funds from the Economic Revitalization and Investment Fund and the Rural Housing Fund on a yearly basis to ensure compliance with the terms and conditions imposed on the recip…

63N-24-316. Pass-through funding agreements -- Accounting for expenditures of a housing organization. (1) As used in this section: "Housing organization" means an entity that: manages a portfolio of investments; is dedicated to the preservation, enhancement, improvement, and reha…

63N-24-401. Definitions. As used in this part: (1) "Allocated volume cap" means a volume cap for which: a certificate of allocation is in effect; or bonds have been issued. (2) "Allotment accounts" means the various accounts created in Section. 63N-24-405 (3) "Board of review" me…

63N-24-402. Private Activity Bond Review Board. (1) There is created within the division the Private Activity Bond Review Board, composed of the following 11 members: the housing coordinator or the housing coordinator's designee; the executive director or the executive director's…

63N-24-403. Powers, functions, and duties of the board of review. The board of review shall: (1) make, subject to the limitations of the code, allocations of volume cap to issuing authorities; (2) determine the amount of volume cap to be allocated with respect to approved applica…

63N-24-404. Allocation of volume cap. (1) Subject to Subsection, the volume cap for each year shall be distributed by the board of review to the allotment accounts as described in Section. (1)(b) 63N-24-405 The board of review may distribute up to 50% of each increase in the volu…

63N-24-405. Allotment accounts. (1) There are created the following allotment accounts: the Single Family Housing Account, for which eligible issuing authorities are those authorized under the code and state statute to issue qualified mortgage bonds under Section 143 of the code;…

63N-24-406. Certificates of allocation. (1) After an allocation of volume cap for a project or program is approved by the board of review, the board of review shall issue a numbered certificate of allocation stating the amount of the allocation, the allotment account for which th…

63N-24-407. Issuing authorities -- Limitations -- Duties. (1) Notwithstanding any law to the contrary, an issuing authority issuing bonds without a certificate of allocation issued under Section, or an issuing authority issuing bonds after the expiration of a certificate of alloc…

63N-24-408. Procedures -- Adjudicative proceedings. The board of review shall comply with the procedures and requirements of, in the board of review's adjudicative proceedings.

63N-24-409. Duties of the division. (1) The division is recognized as an issuing authority, as defined in Section, entitled to issue bonds from the Small Issue Bond Account created in Subsectionas a part of the state's private activity bond volume cap authorized by the Internal R…

63N-24-501. Legislative policy. (1) Funds received by the state from federal mineral lease revenues under Section, bonus payments on federal oil shale lease tracts U-A and U-B, and all other bonus payments on federal mineral leases are to be used for planning, construction and ma…

63N-24-502. Definitions. As used in this part: (1) "Bonus payments" means that portion of the bonus payments received by the United States government under the Leasing Act paid to the state under Section 35 of the Leasing Act, 30 U.S.C. Sec. 191, together with any interest that h…

63N-24-503. Permanent Community Impact Fund -- Deposits and contents -- Use of fund money. (1) There is created an enterprise fund entitled the "Permanent Community Impact Fund." (2) The fund consists of: all amounts appropriated to the impact fund under Section; 59-21-2 bonus pa…

63N-24-504. Permanent Community Impact Fund Board. (1) There is created within the division the Permanent Community Impact Fund Board composed of 11 members as follows: the state treasurer or the state treasurer's designee; the chair of the Transportation Commission or the chair'…

63N-24-505. Powers, functions, and duties of the impact board. (1) The impact board shall: award grants and loans from the amounts appropriated by the Legislature out of the impact fund to state agencies, subdivisions, and interlocal agencies that are or may be socially or econom…

63N-24-506. Impact fund administered by impact board -- Eligibility for assistance -- Review by board -- Administration costs -- Annual report. (1) The impact board shall: administer the impact fund in a manner that will keep a portion of the impact fund revolving; determine prov…

63N-24-507. Throughput Infrastructure Fund. (1) There is created an enterprise fund known as the "Throughput Infrastructure Fund." (2) The fund consists of money generated from the following revenue sources: amounts transferred to the fund by statute; voluntary contributions rece…

63N-24-508. Throughput Infrastructure Fund administered by impact board -- Uses -- Review by board -- Annual report -- First project. (1) The impact board shall: make grants and loans from the Throughput Infrastructure Fund created in Sectionfor a throughput infrastructure projec…

63N-24-509. Application -- Retroactivity. (1) The provisions of, apply to any claim for which a court of competent jurisdiction has not issued a final unappealable judgment or order. (2) The Legislature finds that the provisions of: do not enlarge, eliminate, or destroy vested ri…

63N-24-601. Definitions. As used in this part: (1) "Board" means the Uintah Basin Revitalization Fund Board. (2) "Capital projects" means expenditures for land, improvements on the land, and equipment intended to have long-term beneficial use. (3) "County" means: Duchesne County;…

63N-24-602. Uintah Basin Revitalization Fund. (1) In order to maximize the long-term benefit of severance taxes derived from lands held in trust by the United States for the Tribe and the Tribe's members by fostering funding mechanisms that will, consistent with sound financial p…

63N-24-603. Uintah Basin Revitalization Fund Board. (1) There is created within the division the Revitalization Board composed of five members as follows: the governor or his designee; a Uintah County commissioner; a Duchesne County commissioner; and two representatives of the Bu…

63N-24-604. Powers, functions, and duties of the revitalization fund board. (1) The board shall: subject to the other provisions of this part and an agreement entered into under, among the state, the counties, and the Tribe, make recommendations to the division for grants and loa…

63N-24-605. Eligibility for assistance -- Applications -- Review by board -- Terms -- Security. (1) To receive a loan or grant under this part, a county or the Tribe shall submit an application to the board that contains the information required by the board. (2) The board may no…

63N-24-606. Division to distribute money -- Annual report -- Administration costs. (1) The division shall distribute loan and grant money if the loan or grant is approved by the board. (2) The division shall submit a report to the office for inclusion in the annual written report…

63N-24-701. Definitions. As used in this part: (1) "Board" means the Navajo Revitalization Fund Board. (2) "Capital project" means an expenditure for land, improvements on the land, or equipment intended to have long-term beneficial use. (3) "Division" means the Division of Housi…

63N-24-702. Purpose. The purpose of this part is to: (1) maximize the long-term benefit of state severance taxes derived from lands in Utah held in trust by the United States for the Navajo Nation and the Navajo Nation members by fostering funding mechanisms that will, consistent…

63N-24-703. Navajo Revitalization Fund. (1) There is created an expendable special revenue fund called the "Navajo Revitalization Fund." The revitalization fund shall consist of: money deposited to the revitalization fund under this part; money deposited to the revitalization fun…