Section 409 – Allocation of qualified mortgage bonds to counties, cities, and towns.
Affected by 63I-1-263 on 7/1/2026 Effective 5/12/2015 63H-8-409. Allocation of qualified mortgage bonds to counties, cities, and towns. (1) (a) The corporation may allocate all or part of the amount to one or more counties, cities, and towns within the state or to any authority or agency of any entity that is authorized to issue […]
Section 410 – Low-income housing tax credits.
Affected by 63I-1-263 on 7/1/2026 Effective 5/12/2015 63H-8-410. Low-income housing tax credits. (1) The corporation is designated the “Housing Credit Agency” for the state within the meaning of 26 U.S.C. Sec. 42(h) and for the purposes of carrying out 26 U.S.C. Sec. 42 and regulations promulgated under that section. (2) The entire state housing credit […]
Section 411 – Asset disposition upon dissolution of corporation.
Affected by 63I-1-263 on 7/1/2026 Effective 5/12/2015 63H-8-411. Asset disposition upon dissolution of corporation. Upon dissolution of the corporation: (1) all liabilities and obligations of the corporation, including obligations to bondholders, shall be paid, satisfied, discharged, or adequately provided for; and (2) all remaining money, property, rights, claims, and interests of the corporation shall revert […]
Section 404 – Corporation property, notes, and bonds — Tax exemption except corporate franchise tax.
Affected by 63I-1-263 on 7/1/2026 Effective 5/12/2015 63H-8-404. Corporation property, notes, and bonds — Tax exemption except corporate franchise tax. (1) Property acquired or held by the corporation under this chapter is declared to be public property used for essential public and governmental purposes. (2) The property, its income, and notes and bonds issued under […]
Section 405 – Corporation notes, bonds, obligations — Legal investments.
Affected by 63I-1-263 on 7/1/2026 Effective 5/12/2015 63H-8-405. Corporation notes, bonds, obligations — Legal investments. (1) The notes, bonds, and other obligations issued under the authority of this chapter are securities in which all public officers and public bodies of the state and its political subdivisions, all banks, bankers, savings banks, trust companies, credit unions, […]
Section 406 – Annual report to governor and Legislature — Contents — Audits.
Affected by 63I-1-263 on 7/1/2026 Effective 5/12/2015 63H-8-406. Annual report to governor and Legislature — Contents — Audits. (1) (a) The corporation shall, following the close of each fiscal year, submit, by October 1, an annual written report of its activities for the preceding year to the governor and the Retirement and Independent Entities Interim […]
Section 407 – Act not restriction on powers of corporation — Construed as alternative — Bonds, notes, obligations issued need not comply with other laws.
Affected by 63I-1-263 on 7/1/2026 Effective 5/12/2015 63H-8-407. Act not restriction on powers of corporation — Construed as alternative — Bonds, notes, obligations issued need not comply with other laws. (1) (a) This chapter and its contents are not a restriction or limitation upon other powers that the corporation has under other laws of the […]
Section 408 – Allocation to corporation of mortgage bonds qualified under Internal Revenue Code.
Affected by 63I-1-263 on 7/1/2026 Effective 5/12/2015 63H-8-408. Allocation to corporation of mortgage bonds qualified under Internal Revenue Code. (1) The entire amount of qualified mortgage bonds allowable to Utah under 26 U.S.C. Sec. 143, and the regulations issued under the code, is allocated to the Utah Housing Corporation which, for purposes of 26 U.S.C. […]
Section 303 – Power to issue mortgage credit certificates — Impact of federal legislation on tax exempt status of corporation bonds.
Affected by 63I-1-263 on 7/1/2026 Effective 5/12/2015 63H-8-303. Power to issue mortgage credit certificates — Impact of federal legislation on tax exempt status of corporation bonds. (1) In order to accomplish the purposes of this chapter the corporation may issue mortgage credit certificates under 26 U.S.C. Sec. 25, as amended, and has the sole responsibility […]
Section 304 – Power to borrow money and make loans — Issuance of notes and bonds — Mortgage backed securities.
Affected by 63I-1-263 on 7/1/2026 Effective 5/12/2015 63H-8-304. Power to borrow money and make loans — Issuance of notes and bonds — Mortgage backed securities. (1) The corporation has the power to borrow money and to issue its notes, bonds, and other obligations in principal amounts as the corporation determines is necessary to provide sufficient […]