Section 601 – Title.

Effective 5/5/2021 63N-3-601. Title. This part is known as the “Housing and Transit Reinvestment Zone Act.” Enacted by Chapter 411, 2021 General Session

Section 602 – Definitions.

Effective 7/1/2022 63N-3-602. Definitions. As used in this part: (1) “Affordable housing” means housing occupied or reserved for occupancy by households with a gross household income equal to or less than 80% of the median gross income of the applicable municipal or county statistical area for households of the same size. (2) “Agency” means the […]

Section 603 – Applicability, requirements, and limitations on a housing and transit reinvestment zone.

Effective 6/1/2022 63N-3-603. Applicability, requirements, and limitations on a housing and transit reinvestment zone. (1) A housing and transit reinvestment zone proposal created under this part shall promote the following objectives: (a) higher utilization of public transit; (b) increasing availability of housing, including affordable housing; (c) conservation of water resources through efficient land use; (d) […]

Section 604 – Process for a proposal of a housing and transit reinvestment zone — Analysis.

Effective 5/4/2022 63N-3-604. Process for a proposal of a housing and transit reinvestment zone — Analysis. (1) Subject to approval of the housing and transit reinvestment zone committee as described in Section 63N-3-605, in order to create a housing and transit reinvestment zone, a municipality or public transit county that has general land use authority […]

Section 605 – Housing and Transit Reinvestment Zone Committee — Creation.

Effective 5/4/2022 63N-3-605. Housing and Transit Reinvestment Zone Committee — Creation. (1) For any housing and transit reinvestment zone proposed under this part, there is created a housing and transit reinvestment zone committee with membership described in Subsection (2). (2) Each housing and transit reinvestment zone committee shall consist of the following members: (a) one […]

Section 606 – Notice requirements.

Effective 5/5/2021 63N-3-606. Notice requirements. (1) In approving a housing and transit reinvestment zone proposal the housing and transit reinvestment zone committee shall follow the hearing and notice requirements for creating a housing and transit reinvestment zone area proposal. (2) Within 30 days after the housing and transit reinvestment zone committee approves a proposed housing […]

Section 607 – Payment, use, and administration of revenue from a housing and transit reinvestment zone.

Effective 5/4/2022 63N-3-607. Payment, use, and administration of revenue from a housing and transit reinvestment zone. (1) A municipality or public transit county may receive and use tax increment and housing and transit reinvestment zone funds in accordance with this part. (2) (a) A county that collects property tax on property located within a housing […]

Section 608 – Applicability to an existing community reinvestment project.

Effective 5/5/2021 63N-3-608. Applicability to an existing community reinvestment project. For a housing and transit reinvestment zone created under this part that overlaps any portion of an existing inactive industrial site community reinvestment project area plan created pursuant to Title 17C, Limited Purpose Local Government Entities – Community Reinvestment Agency Act: (1) if the community […]

Section 609 – Tax increment protections.

Effective 5/5/2021 63N-3-609. Tax increment protections. (1) Upon petition by a participating taxing entity or on the initiative of the housing and transit reinvestment zone committee creating a housing and transit reinvestment zone, a housing and transit reinvestment zone may suspend or terminate the collection of tax increment in a housing and transit reinvestment zone […]

Section 610 – Sales and use tax increment in a housing and transit reinvestment zone.

Effective 5/4/2022 63N-3-610. Sales and use tax increment in a housing and transit reinvestment zone. (1) A housing and transit reinvestment proposal shall, in consultation with the tax commission: (a) create a sales and use tax boundary as described in Subsection (2); and (b) establish a sales and use tax base year and collection period […]