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UT HB0461

UT HB0461
Tax Increment Financing Revisions


summary

Introduced
02/03/2026
In Committee
Crossed Over
Passed
Dead

Introduced Session

2026 General Session

Bill Summary

General Description: This bill deals with the publication of information about tax increment revenue.

AI Summary

This bill mandates that various state economic development authorities and districts, including the Utah Inland Port Authority, Point of the Mountain State Land Authority, Utah Fairpark Area Investment and Restoration District, Military Installation Development Authority, and entities involved with convention center reinvestment zones, must annually publish detailed financial and operational information on their respective websites by June 30th. This information includes assessments of property value changes, comparisons of actual versus forecasted tax revenue, historical receipts and expenditures, details on taxing entities and their benefits, future revenue expectations, remaining collection periods, and maps of the project areas. The Governor's Office of Economic Opportunity (GOEO) is also tasked with coordinating these publications and recommending whether this information should be consolidated onto a single website for public benefit. Furthermore, the bill requires these entities to notify a legislative committee by September 1st of each year that they have complied with these publication requirements.

Sponsors (1)

Last Action

House/ received fiscal note from Fiscal Analyst in House Rules Committee (on 02/05/2026)

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