Bill > HB0507

This bill amends several Utah code sections related to economic development and local government financing. Key provisions include extending the deadline for municipalities and counties to designate home ownership promotion zones until January 1, 2028, and clarifying that zones created before this date will continue to exist under current regulations. It also introduces new regulations for "regionally significant development zones" (RSDZs), which are areas designated for economic development that can utilize tax increment financing, and establishes rules for how revenue generated within these zones can be used, including contributions to a "State Reinvestment Restricted Account." The bill also modifies rules regarding energy excise taxes, specifically allowing counties to levy an excise tax on "high-impact consumers" (like large data centers) within unincorporated areas, with a portion of the revenue going to the State Reinvestment Restricted Account. Furthermore, it places new restrictions on political subdivisions providing incentives to large load data centers, generally prohibiting them unless the data center is located within a specific type of RSDZ or meets certain criteria related to energy taxes. The bill also makes changes to the definition and application of "public infrastructure districts" and revises provisions related to housing and transit reinvestment zones, first home investment zones, and convention center reinvestment zones, including setting new deadlines for their creation and modifying their boundaries and revenue capture rules. Finally, it introduces new definitions and regulations for RSDZs with energy implications, including specific rules for large load data centers within these zones and their tax treatment.

Business and Industry

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