Effective 5/4/2022 63H-1-501. Authority receipt and use of property tax allocation — Contractual annual payment — Distribution of property tax allocation. (1) (a) The authority may: (i) subject to Subsection (1)(b): (A) receive up to 75% of the property tax allocation for up to 25 years, as provided in this part; and (B) after the […]
Effective 5/4/2022 63H-1-502. Allowable uses of property tax allocation and other funds. (1) Other than municipal services revenue, the authority may use the property tax allocation and other funds available to the authority: (a) for any purpose authorized under this chapter; (b) for administrative, overhead, legal, and other operating expenses of the authority; (c) to […]
63H-1-503. Use of municipal services revenue. (1) The authority may use municipal services revenue to pay for: (a) administrative, overhead, legal, and other operating expenses of the authority; and (b) municipal services within the project area from which the revenue was collected. (2) Unless otherwise provided by agreement between the authority and each county and […]
63H-1-504. Authority funds nonlapsing. All funds received by the authority are nonlapsing. Enacted by Chapter 9, 2010 General Session
