Utah SB0243 amends housing and transit reinvestment zone rules, affecting property tax increments and affordable housing requirements.
Utah SB0243 amends the rules for housing and transit reinvestment zones, impacting property tax increments and affordable housing requirements. The bill modifies the term and period for capturing property tax increments and the period for triggering collection. It also adjusts the affordable housing requirements, including the percentage of units that must be affordable and the income limits for households occupying these units.
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