Utah SB0228 amends definitions and modifies community reinvestment agency project area dissolution, reporting requirements, and tax increment revenue.

Utah SB0228 amends definitions and modifies community reinvestment agency project area dissolution, reporting requirements, and tax increment revenue distribution. It defines terms such as "adjusted tax increment," "incremental value," and "tax increment." The bill modifies when a community reinvestment agency project area is dissolved, allowing for extensions of the dormancy period. It also modifies community reinvestment agency reporting requirements, including annual reports and information submission to the Governor's Office of Economic Opportunity.

Utah SB0228 amends definitions and modifies community reinvestment agency project area dissolution, reporting requirements, and tax increment revenue.

Utah SB0228 amends definitions and modifies community reinvestment agency project area dissolution, reporting requirements, and tax increment revenue distribution. It defines terms such as "adjusted tax increment," "incremental value," and "tax increment." The bill modifies when a community reinvestment agency project area is dissolved, allowing for extensions of the dormancy period. It also modifies community reinvestment agency reporting requirements, including annual reports and information submission to the Governor's Office of Economic Opportunity.