Title 11, Cities, Counties, and Local Taxing Units

11-58-303. Term of board members -- Quorum -- Compensation. (1) The term of a board member appointed under Subsection 11-58-302(2) is four years, except that the initial term of two of the three members appointed under Subsection 11-58-302(2)(a) is two years. (2) Each board membe…

11-58-304. Limitations on board members and executive director -- Annual conflict of interest disclosure statement -- Penalties. (1) As used in this section: (a) "Direct financial benefit": (i) means any form of financial benefit that accrues to an individual directly, including:…

11-58-305. Executive director. (1) The board shall hire and oversee a full-time executive director. (2)(a) The executive director is the chief executive officer of the authority. (b) The role of the executive director is to: (i) manage and oversee the day-to-day operations of the…

11-58-501. Preparation of project area plan -- Required contents of project area plan. (1)(a) Subject to Section 11-58-605, the authority jurisdictional land constitutes a single project area. (b) The authority is not required to adopt a project area plan for a project area consi…

11-58-502. Public meeting to consider and discuss draft project area plan -- Notice -- Adoption of plan. (1) The board shall hold at least one public meeting to consider and discuss a draft project area plan. (2) At least 10 days before holding a public meeting under Subsection (…

11-58-503. Notice of project area plan adoption -- Effective date of plan -- Time for challenging a project area plan or project area. (1) Upon the board's adoption of a project area plan, the board shall provide notice as provided in Subsection (2) by publishing or causing to be…

11-58-504. Amendment to a project area plan. (1) The authority may amend a project area plan by following the same procedure under this part as applies to the adoption of a project area plan. (2) The provisions of this part apply to the authority's adoption of an amendment to a p…

11-58-505. Project area budget. (1) Before the authority may use the property tax differential from a project area, the board shall prepare and adopt a project area budget. (2) A project area budget shall include: (a) the base taxable value of property in the project area; (b) th…

11-58-600.5. Definitions. As used in this part: (1) "General differential" means property tax differential generated by a property tax levied: (a) on property that is not part of the authority jurisdictional land or within a remediation project area; and (b) by all taxing entitie…

11-58-600.7. Limit on tax differential the authority may receive from authority jurisdictional land. The authority may not receive: (1) a taxing entity's portion of property tax differential generated from an area that is part of the authority jurisdictional land and included wit…

11-58-601. General differential and nonmunicipal differential. (1) As used in this section: (a) "Designation order" means a written determination, issued by the executive director, that designates a transition date and a trigger date, which may be the same date, for the parcel sp…

11-58-602. Allowable uses of property tax differential and other funds. (1) The authority may use money from property tax differential, money the authority receives from the state, money the authority receives under Subsection 59-12-205(2)(a)(ii)(C), and other money available to …

11-58-603. Use of authority money for business recruitment incentive. (1) As used in this section: (a) "Business recruitment incentive" means the post-performance payment of property tax differential as an incentive for development within a project area, as provided in this secti…

11-58-604. Distribution and use of primary municipality differential. (1) This section applies to the payment and use of primary municipality differential. (2) Beginning the first tax year that begins on or after January 1, 2023: (a) the authority shall be paid 25% of primary mun…

11-58-605. Creation of remediation project area and payment of remediation differential. (1) As used in this section: (a) "Remedial action plan" means a plan for the cleanup of contaminated land under a voluntary cleanup agreement under Title 19, Chapter 8, Voluntary Cleanup Prog…

11-58-606. Distribution of property tax differential. (1) A county that collects property tax on property within a project area shall, in the manner and at the time provided in Section 59-2-1365: (a) pay and distribute to the authority the property tax differential that the autho…

11-58-607. Revenue sharing agreements. (1)(a) Whenever a private entity's real estate development is supported by funding from the authority, authority staff may negotiate and enter into a revenue sharing agreement with the private entity. (b) The revenue sharing agreement shall …

11-58-701. Resolution authorizing issuance of port authority bonds -- Characteristics of bonds -- Notice. (1) The authority may not issue bonds under this part unless the board first: (a) adopts a parameters resolution for the bonds that sets forth: (i) the maximum: (A) amount of…

11-58-702. Sources from which bonds may be made payable -- Port authority powers regarding bonds. (1) The principal and interest on bonds issued by the authority may be made payable from: (a) the income and revenues of the projects financed with the proceeds of the bonds; (b) the…

11-58-703. Purchase of port authority bonds. (1) Any person, firm, corporation, association, political subdivision of the state, or other entity or public or private officer may purchase bonds issued by an authority under this part with funds owned or controlled by the purchaser.…

11-58-704. Those executing bonds not personally liable -- Limitation of obligations under bonds -- Negotiability. (1) A member of the board or other person executing an authority bond is not liable personally on the bond. (2)(a) A bond issued by the authority is not a general obl…

11-58-705. Obligee rights -- Board may confer other rights. (1) In addition to all other rights that are conferred on an obligee of a bond issued by the authority under this part and subject to contractual restrictions binding on the obligee, an obligee may: (a) by mandamus, suit…

11-58-706. Bonds exempt from taxes -- Port authority may purchase its own bonds. (1) A bond issued by the authority under this part is issued for an essential public and governmental purpose and is, together with interest on the bond and income from it, exempt from all state taxe…

11-58-801. Annual port authority budget -- Fiscal year -- Public hearing required -- Auditor forms -- Requirement to file annual budget. (1) The authority shall prepare and its board adopt an annual budget of revenues and expenditures for the authority for each fiscal year. (2) E…

11-58-802. Amending the port authority annual budget. (1) The board may by resolution amend an annual authority budget. (2) An amendment of the annual authority budget that would increase the total expenditures may be made only after public hearing by notice published as required…

11-58-803. Port authority reporting. (1)(a) On or before November 1 of each year, the authority shall prepare and file a report with the county auditor of each county in which the authority jurisdictional land is located, the State Tax Commission, the State Board of Education, an…

11-58-804. Audit requirements. The authority shall comply with the audit requirements of Title 51, Chapter 2a, Accounting Reports from Political Subdivisions, Interlocal Organizations, and Other Local Entities Act.

11-58-805. Audit report. (1) The authority shall, within 180 days after the end of the authority's fiscal year, file a copy of the audit report with the county auditor, the State Tax Commission, the State Board of Education, and each taxing entity that levies a tax on property fr…

11-58-806. Port authority chief financial officer is a public treasurer -- Certain port authority funds are public funds. (1) The authority's chief financial officer: (a) is a public treasurer, as defined in Section 51-7-3; and (b) shall invest the authority funds specified in Su…

11-58-901. Dissolution of port authority -- Restrictions -- Notice of dissolution -- Disposition of port authority property -- Port authority records -- Dissolution expenses. (1) The authority may not be dissolved unless the authority has no outstanding bonded indebtedness, other…

11-59-102. Definitions. As used in this chapter: (1) "Authority" means the Point of the Mountain State Land Authority, created in Section 11-59-201. (2) "Board" means the authority's board, created in Section 11-59-301. (3) "Development": (a) means the construction, reconstructio…

11-59-103. Scope of chapter -- Limit on selling or leasing point of the mountain state land -- Authority control over point of the mountain state land -- Role of Division of Facilities Construction and Management -- Local government authority not applicable. (1) This chapter gove…

11-59-104. Loan committee -- Approval of infrastructure loans. (1) As used in this section: (a) "Borrower" means the same as that term is defined in Section 63A-3-401.5. (b) "Infrastructure loan" means the same as that term is defined in Section 63A-3-401.5. (c) "Infrastructure p…

11-59-201. Creation of Point of the Mountain State Land Authority -- Status and duties of authority. (1) There is created the Point of the Mountain State Land Authority. (2) The authority is: (a) an independent, nonprofit, separate body corporate and politic, with perpetual succe…

11-59-202. Authority powers. The authority may: (1) as provided in this chapter, plan, manage, and implement the development of the point of the mountain state land, including the ongoing operation of facilities on the point of the mountain state land; (2) undertake, or engage a …

11-59-203. Authority duties and responsibilities. (1) As the authority plans, manages, and implements the development of the point of the mountain state land, the authority shall pursue development strategies and objectives designed to: (a) maximize the creation of high-quality j…

11-59-204. Applicability of other law -- Coordination with municipality. (1) The authority and the point of the mountain state land are not subject to: (a) Title 10, Chapter 20, Municipal Land Use, Development, and Management Act; or (b) the jurisdiction of a special district und…

11-59-205. Authority funds. (1) Authority funds consist of all money that the authority receives from any source, including: (a) money appropriated by the Legislature; (b) money from lease revenue; (c) revenue from fees or other charges imposed by the authority; and (d) other mon…

11-59-206. Energy sales and use tax. (1) As provided in Subsection 10-1-304(1)(c), the authority may by resolution levy an energy sales and use tax, under Title 10, Chapter 1, Part 3, Municipal Energy Sales and Use Tax Act, on an energy supplier, as defined in Section 10-1-303, t…

11-59-207. Privilege tax on leased property on state-owned land. (1) As used in this section: (a) "Exempt property" means real property that is exempt from ad valorem property tax because the real property is owned by the state. (b) "Lease agreement" means an agreement by which a…

11-59-208. Portion of property tax augmentation to be paid to authority -- Reporting. (1) As used in this section: (a) "Base taxable value" means the taxable value in the year before the transfer date. (b) "Property tax augmentation": (i) means the amount of property tax that is …

11-59-301. Authority board -- Delegation of power. (1) The authority shall be governed by a board, which shall manage and conduct the business and affairs of the authority and shall determine all questions of authority policy. (2) All powers of the authority are exercised through…

11-59-302. Number of board members -- Appointment -- Vacancies -- Chairs. (1) The board shall consist of seven voting members as provided in Subsection (2). (2)(a) The governor shall appoint as board members three individuals with experience in economic development, corporate rec…

11-59-303. Term of board members -- Quorum requirements -- Compensation. (1)(a) The term of each board member appointed under Subsection 11-59-302(2) is four years, except that the initial term of one of the members appointed under Subsection 11-59-302(2)(a) is two years and the …

11-59-304. Staff and other support services -- Cooperation from state and local government entities -- Services from state agencies. (1) As used in this section, "office" means the Governor's Office of Economic Development, created in Section 63N-1a-301. (2) If and as requested b…

11-59-306. Limitations on board members -- Annual conflict of interest disclosure statement -- Exception -- Penalties. (1) As used in this section: (a) "Designated individual" means an individual: (i)(A) who is a member of the Senate or House of Representatives; (B) who has been …