Bill > SB0206

This bill modifies provisions related to tax increment financing (TIF) reporting and administration, aiming to increase transparency and accountability. Key changes include establishing a new chapter in Utah code (Title 59, Chapter 35) dedicated to Tax Increment Financing Reporting, which mandates TIF entities (political subdivisions that receive or are authorized to receive tax increment) to disclose detailed information about their projects, finances, and expected benefits before triggering tax increment. This includes conducting an "authorization meeting" and submitting a "disclosure" to a "program manager" (an association representing at least two-thirds of the state's counties) detailing the public good to be addressed, the type and maximum amount of tax increment sought, cost analyses, a "but-for analysis" demonstrating why tax increment is necessary, and how benefits are proportionate. The bill also centralizes data collection and reporting through the "program manager" and a statewide database, and requires various entities, including municipalities, counties, agencies, public infrastructure districts, port authorities, and fairpark districts, to comply with these new reporting requirements. Additionally, it clarifies definitions, adjusts existing reporting obligations, and repeals certain outdated provisions.

Budget and Finance

https://le.utah.gov/~2026/bills/static/SB0206.html