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 402 – State pledge to holders of notes or bonds.
Affected by 63I-1-263 on 7/1/2026 Effective 5/12/2015 63H-8-402. State pledge to holders of notes or bonds. (1) The state pledges and agrees with the holders of notes or bonds issued under this chapter that the state will not limit or alter the rights hereby vested in the corporation to fulfill the terms of agreements made […]
Section 403 – Notes, bonds, other obligations — Not a debt liability — Expenses payable from funds provided — Corporation without authority to incur liability on behalf of state — Relationship to Governmental Immunity Act of Utah.
Affected by 63I-1-263 on 7/1/2026 Effective 5/12/2015 63H-8-403. Notes, bonds, other obligations — Not a debt liability — Expenses payable from funds provided — Corporation without authority to incur liability on behalf of state — Relationship to Governmental Immunity Act of Utah. (1) (a) (i) Notes, bonds, and other obligations issued under this chapter are […]