Bill > HB0507

This bill amends several Utah code sections related to economic development and local government incentives. It modifies the criteria for creating "home ownership promotion zones" by municipalities and counties, allowing them to be established before January 1, 2028, and sets specific requirements for zoning density and the absence of existing residential building permits. The bill also introduces new regulations concerning "large load customers" and "qualifying data centers," prohibiting most local economic development incentives for these entities after May 6, 2026, unless they are located within a "regionally significant development zone" (a designated area intended to promote economic growth, transit, housing, or major events) and funded by specific zone revenues. Furthermore, it establishes new provisions for "regionally significant development zones," outlining their creation, financing through property tax increment and other revenue sources, and the allowable uses of these funds, including contributions to a new "State Reinvestment Restricted Account" for various public purposes. The bill also introduces a county energy excise tax on high-impact consumers, such as large load customers and data centers, with a portion of the revenue directed to the State Reinvestment Restricted Account. Finally, it sets deadlines for proposing new housing and transit reinvestment zones and first home investment zones, generally limiting new proposals after December 31, 2027, while allowing existing zones to continue.

Business and Industry

https://le.utah.gov/~2026/bills/static/HB0507.html