Title 17C, Limited Purpose Local Government Entities - Community Reinvestment Agency Act

17C-1-1005. Agency property tax levy -- Budget -- Accounting for property tax revenue. (1)(a) Each agency that levies and collects property tax under this part shall levy and collect the property tax in accordance with Title 59, Chapter 2, Property Tax Act. (b) Except as provided…

17C-1-101. Title. (1) This title is known as the "Limited Purpose Local Government Entities - Community Reinvestment Agency Act." (2) This chapter is known as "Agency Operations." (3) This part is known as "General Provisions."

17C-1-102. Definitions. As used in this title: (1) "Adjusted tax increment" means the percentage of tax increment, if less than 100%, that an agency is authorized to receive: (a) for a pre-July 1, 1993, project area plan, under Section 17C-1-403, excluding tax increment under Sub…

17C-1-102.5. Project area created on or after May 10, 2016. Beginning on May 10, 2016, an agency: (1) may create a community reinvestment project area under Chapter 5, Community Reinvestment; (2) except as provided in Subsection (3), may not create: (a) an urban renewal project a…

17C-1-103. Limitations on applicability of title -- Amendment of previously adopted project area plan. (1) Except where expressly provided, nothing in this title may be construed to: (a) impose a requirement or obligation on an agency, with respect to a project area plan adopted …

17C-1-104. Actions not subject to land use laws. (1) An action taken under this title is not subject to Title 10, Chapter 20, Municipal Land Use, Development, and Management Act or Title 17, Chapter 79, County Land Use, Development, and Management Act. (2) An ordinance or resolut…

17C-1-201.1. Title. This part is known as "Agency Creation, Powers, and Board."

17C-1-201.5. Creation of agency -- Name change. (1) A community legislative body may, by ordinance, create a community reinvestment agency. (2)(a) The community legislative body shall: (i) after adopting an ordinance under Subsection (1), file with the lieutenant governor a copy …

17C-1-202. Agency powers. (1) An agency may: (a) sue and be sued; (b) enter into contracts generally; (c) buy, obtain an option upon, acquire by gift, or otherwise acquire any interest in real or personal property; (d) hold, sell, convey, grant, gift, or otherwise dispose of any …

17C-1-203. Agency board -- Quorum. (1) The governing body of an agency is a board consisting of the current members of the community legislative body. (2) A majority of board members constitutes a quorum for the transaction of agency business. (3) A board may not adopt a resoluti…

17C-1-204. Project area development by an adjoining agency -- Requirements. (1)(a) A community, regardless of whether the community has created an agency, may enter into an interlocal agreement with an agency located in the same or an abutting county that authorizes the agency to…

17C-1-205. Transfer of project area from one community to another. (1) As used in this section: (a) "New agency" means the agency created by the new community. (b) "New community" means the community in which the relocated project area is located after the change in community bou…

17C-1-207. Public entities may assist with project area development -- Notice requirements. (1) In order to assist and cooperate in the planning, undertaking, construction, or operation of project area development within an area in which the public entity is authorized to act, a …

17C-1-208. Agency funds. (1) Agency funds shall be accounted for separately from the funds of the community that created the agency. (2) An agency may accumulate retained earnings or fund balances, as appropriate, in any fund.

17C-1-209. Agency records. An agency shall maintain the agency's minutes, resolutions, and other records separate from those of the community that created the agency.

17C-1-301.1. Title. This part is known as "Agency Property."

17C-1-301.5. Agency property exempt from taxation -- Exception. (1) Agency property acquired or held for purposes of this title is public property used for essential public and governmental purposes and, subject to Subsection (2), is exempt from taxation by a taxing entity. (2) T…

17C-1-302. Agency property exempt from levy and execution sale -- Judgment against community or agency. (1)(a)(i) All agency property, including funds the agency owns or holds for purposes of this title, is exempt from levy and execution sale, and no execution or judicial process…

17C-1-401.1. Title. This part is known as "Project Area Funds."

17C-1-401.5. Agency receipt and use of project area funds -- Distribution of project area funds. (1) An agency may receive and use project area funds in accordance with this title. (2)(a) A county that collects property tax on property located within a project area shall, in acco…

17C-1-402. Taxing entity committee. (1) The provisions of this section apply to a taxing entity committee that is created by an agency for: (a) a post-June 30, 1993, urban renewal project area plan or economic development project area plan; (b) any other project area plan adopted…

17C-1-403. Tax increment under a pre-July 1, 1993, project area plan. (1) Notwithstanding any other provision of law, this section applies retroactively to tax increment under all pre-July 1, 1993, project area plans, regardless of when the applicable project area was created or …

17C-1-404. Tax increment under a post-June 30, 1993, project area plan. (1) This section applies to tax increment under a post-June 30, 1993, project area plan adopted before May 1, 2006, only. (2) A board may provide in the project area budget for the agency to be paid: (a) if 2…

17C-1-405. Tax increment under a project area plan adopted on or after May 1, 2006. (1) This section applies to tax increment under a project area plan adopted on or after May 1, 2006, and before May 10, 2016. (2) Subject to the approval of the taxing entity committee, a board ma…

17C-1-406. Additional tax increment under certain post-June 30, 1993, project area plans. (1) This section applies to a post-June 30, 1993, project area plan adopted before May 1, 2006. (2) An agency may, without the approval of the taxing entity committee, elect to be paid 100% …

17C-1-407. Limitations on tax increment. (1)(a) If the development of retail sales of goods is the primary objective of an urban renewal project area, tax increment from the urban renewal project area may not be paid to or used by an agency unless the agency makes a development i…

17C-1-408. Base taxable value to be adjusted to reflect other changes. (1)(a)(i) As used in this Subsection (1), "qualifying decrease" means: (A) a decrease of more than 20% from the previous tax year's levy; or (B) a cumulative decrease over a consecutive five-year period of mor…

17C-1-409. Allowable uses of agency funds. (1)(a) An agency may use agency funds: (i) for any purpose authorized under this title; (ii) for administrative, overhead, legal, or other operating expenses of the agency, including consultant fees and expenses under Subsection 17C-2-10…

17C-1-410. Agency may make payments to other taxing entities. (1) Subject to Subsection (3), an agency may grant agency funds to a taxing entity to offset some or all of the tax revenue that the taxing entity did not receive because of tax increment paid to the agency. (2)(a) Sub…

17C-1-411. Use of project area funds for housing-related improvements and for relocating mobile home park residents -- Funds to be held in separate accounts. (1) An agency may use project area funds: (a) to pay all or part of the value of the land for and the cost of installation…

17C-1-412. Use of housing allocation -- Separate accounting required -- Issuance of bonds for housing -- Action to compel agency to provide housing allocation. (1)(a) An agency shall use the agency's housing allocation to: (i) pay part or all of the cost of land or construction o…

17C-1-413. Base taxable value for new tax. For purposes of calculating tax increment with respect to a tax that a taxing entity levies for the first time after the effective date of a project area plan, the base taxable value shall be used, subject to any adjustments under Sectio…

17C-1-414. Project area boundaries that divide a tax parcel -- Deletion of parcel from tax increment calculation. (1) If the boundaries of a project area, as described in the project area plan, include part of a tax parcel and exclude part of the same tax parcel, the agency shall…

17C-1-415. Obligations of agencies that use tax increment to pay for communication infrastructure or facility. An agency that uses tax increment on or after March 30, 2009 to pay for communication infrastructure or a communication facility: (1) may not make or grant any undue or …

17C-1-416. Extension of collection period for project areas impacted by COVID-19 emergency -- Requirements -- Limitations. (1) For purposes of this section: (a) "COVID-19 emergency" means the same as that term is defined in Section 53-2c-102. (b) "Extension period" means the peri…

17C-1-501.1. Title. This part is known as "Agency Bonds."

17C-1-501.5. Resolution authorizing issuance of agency bonds -- Characteristics of bonds. (1) An agency may not issue a bond under this part unless the board first adopts a resolution authorizing the bond issuance. (2)(a) As provided in the agency resolution authorizing the issua…

17C-1-502. Sources from which bonds may be made payable -- Agency powers regarding bonds. (1) An agency may pay the principal and interest on a bond issued by the agency from: (a) the income and revenues of the project area development financed with the proceeds of the bond; (b) …

17C-1-503. Signature of officer who leaves office. If an agency officer whose signature appears on a bond issued under this part leaves office before delivery of the bond, the signature shall continue to be valid as if the official had remained in office until delivery of the bon…

17C-1-504. Contesting the legality of resolution authorizing bonds -- Time limit -- Presumption. (1) Any person may contest the legality of the resolution authorizing issuance of the bond or any provisions for the security and payment of the bond for a period of 30 days after: (a…

17C-1-505. Authority to purchase agency bonds. (1) Any person, firm, corporation, association, political subdivision of the state, or other entity or public or private officer may purchase a bond issued by an agency under this part with funds owned or controlled by the purchaser.…

17C-1-506. Those executing bonds not personally liable -- Limitation of obligations under bonds -- Negotiability. (1) A member of a board or other person executing an agency bond is not liable personally on the bond. (2)(a) A bond issued by an agency is not a general obligation o…

17C-1-507. 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 an agency under this part and subject to contractual restrictions binding on the obligee, an obligee may: (a) by mandamus, suit, ac…

17C-1-508. Bonds exempt from taxes -- Agency may purchase an agency's own bonds. (1) A bond issued by an agency 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 taxes ex…

17C-1-601.1. Title. This part is known as "Agency Annual Report, Budget, and Audit Requirements."

17C-1-601.5. Annual agency budget -- Fiscal year -- Public hearing required -- Notice -- Auditor forms -- Requirement to file form. (1) Each agency shall prepare an annual budget of the agency's revenues and expenditures for each fiscal year. (2) The board shall adopt each agency…