Bill > SB0280

This bill modifies Utah's laws regarding retail facility incentive payments, which are financial incentives provided by public entities to businesses for developing or operating retail facilities. The bill clarifies and refines the existing regulations by updating definitions and establishing more specific conditions under which public entities can make such payments. Key provisions include allowing retail facility incentive payments in specific circumstances, such as developments in low-income census tracts, mixed-use developments with a certain proportion of housing units (including some designated as moderate-income housing), small business facilities, and facilities in smaller counties or for specific types of organizations like nonprofit arts groups. The bill requires public entities to submit detailed reports or notifications to the Governor's Office of Economic Opportunity when making these incentive payments, and establishes a review process where the office can investigate potential violations. If violations are found and not addressed, the office may notify the state auditor. The bill also explicitly preserves public entities' ability to make certain types of infrastructure and public facility investments. The legislation aims to provide more transparency and accountability in how public funds are used to support retail development, with an effective date of May 7, 2025.

Business and Industry

https://le.utah.gov/~2025/bills/static/SB0280.html