SB 225 — Public Corporation Amendments

225 (1) The authority has exclusive jurisdiction, responsibility, and power to coordinate the efforts of all applicable state and local government entities, property owners and other private parties, and other stakeholders to:

- 7 - SB0225 compared with SB0225S03 (b) facilitate and provide funding for the development of land in a project area, land related to land in a project area, and land adjacent to a project area, including:

(e)- as7 the- authorityS.B. considers necessary or advisable to carry out any of the authority's duties or responsibilities under this chapter:

225 Enrolled Copy (e) as the authority considers necessary or advisable to carry out any of the authority's duties or responsibilities under this chapter:

- 8 - SB0225 compared with SB0225S03 (m) issue bonds to finance the undertaking of any development objectives of the authority, including bonds under Chapter 17, Utah Industrial Facilities and Development Act, bonds under Chapter 42, Assessment Area Act, and bonds under Chapter 42a, Commercial Property Assessed Clean Energy Act;

(q) work with other political subdivisions and neighboring property owners and communities to mitigate potential negative impacts from the development of authority- jurisdictional8 land;- Enrolled Copy S.B.

225 authority jurisdictional land;

(3)(3)(a) (a) Beginning April 1, 2020, the authority shall:

(b)(b)(i) (i) As used in this Subsection (3)(b), "split property" means a piece of land:

and - 9 - SB0225 compared with SB0225S03 (B) that is partly included within and partly excluded from the authority jurisdictional land by the boundary delineated in the shapefile described in Subsection [11-58-102(2)] 11-58-102(2)(a).

(iii) In adjusting the boundary under Subsection (3)(b)(ii), the executive director shall consult with the county assessor, the county surveyor, the owner of the split property,- and9 the- municipalityS.B. in which the split property is located.

225 Enrolled Copy property, and the municipality in which the split property is located.

(4)(4)(a) (a) The authority may establish a community enhancement program designed to address the impacts that development or inland port uses within project areas have on adjacent communities.

(b)(b)(i) (i) The authority may use authority money to support the community enhancement program and to pay for efforts to address the impacts described in Subsection (4)(a).

11-58-501.11-58-501 .

(1)(1)(a) (a) Subject to Section 11-58-605, the authority jurisdictional land constitutes a single project area.

- 10 - SB0225 compared with SB0225S03 (b) The authority is not required to adopt a project area plan for a project area consisting of the authority jurisdictional land.

(2)(2)(a) (a) The board may adopt a project area plan for land that is outside the authority jurisdictional land, as provided in this part, if the board receives written consent to include the land in the project area described in the project area plan from, as applicable:- 10 - Enrolled Copy S.B.

225 applicable:

(b)(b)(i) (i) An owner of land proposed to be included within a project area may request that the owner's land be excluded from the project area.

(3)(3)(a) (a) Each project area plan and draft project area plan shall contain:

[(a)] (i) a {[legal]}legal description of the boundary of the project area;

and - 11 - SB0225 compared with SB0225S03 [(c)] (iii) the board's findings and determination that:

(b) A description of a boundary of a project area, as described in Subsection (3)(a)(i){,(3)(a)(i): may include a legal description, parcel number, property identification number, metes and bounds narrative description, GIS boundary file, or other method of description that accurately depicts the project area.} :

and (ii)- may11 include- aS.B. parcel number, property identification number, metes and bounds narrative description, GIS boundary file, or other method of description that accurately depicts the project area.

225 Enrolled Copy (ii) may include a parcel number, property identification number, metes and bounds narrative description, GIS boundary file, or other method of description that accurately depicts the project area.

11-58-503.11-58-503 .

(2)(2)(a) (a) Each notice under Subsection (1) shall include:

(5)(5)(a) - 12 - SB0225 compared with SB0225S03 (a) The authority may make adjustments to the boundaries of a project area:

{[(5)](d) (6)} (a){(d)} This Subsection (5):

[(5)] (6)(6)(a) (a) Within 10 days after the day on which a project area plan is adopted that establishes a project area, or after an amendment to a project area plan is adopted under- which12 the- boundaryEnrolled ofCopy aS.B. project area is modified, the authority shall send notice of the establishment or modification of the project area and an accurate map or plat of the project area to:

225 under which the boundary of a project area is modified, the authority shall send notice of the establishment or modification of the project area and an accurate map or plat of the project area to:

[(6)] (7)(7)(a) (a) A legal action or other challenge to a project area plan or a project area described in a project area plan is barred unless brought within 30 days after the effective date of the project area plan.

11-58-601.11-58-601 .

- 13 - SB0225 compared with SB0225S03 (a) "Designation [resolution] order" means a [resolution adopted by the board] written determination, issued by the executive director, that designates a transition date and a trigger date, which may be the same date, for the parcel specified in the [resolution] written determination.

(a)- for13 the- periodS.B. beginning November 2019 and ending the earlier of:

225 Enrolled Copy (a) for the period beginning November 2019 and ending the earlier of:

(4)(4)(a) (a) As provided in Subsection (4)(b), the authority shall be paid:

and (ii) up to 75% of general differential, as determined by the board and included in a project area plan adopted or amended under Part 5, Project Area Plan and Budget, generated from a post-post-designation designation parcel that is not part of the authority jurisdictional land.

and - 14 - SB0225 compared with SB0225S03 (ii) for a period of up to an additional 15 years beyond the period stated in Subsection (4)(b)(i) if the board determines by resolution that the additional years of nonmunicipal differential or general differential, as the case may be, from that parcel will produce a significant benefit.

(5)(5)(a) (a) For purposes of this section, the authority may designate an improved portion of a parcel in a project area as a separate parcel.

11-58-602.11-58-602 .

(1)(1)[(a)] [(a)] The authority may use money from property tax differential, money the authority receives from the state, money the authority receives under Subsection 59-12-205(2)(a)(ii)(C), and other money available to the authority:

[(i)]- (a)14 for- anyEnrolled purposeCopy authorizedS.B. under this chapter;

225 [(i)] (a) for any purpose authorized under this chapter;

- 15 - SB0225 compared with SB0225S03 [(viii)] (h) to pay the cost of acquiring land or an easement on land that is part of or adjacent to authority jurisdictional land:

[(b)[(b)(i)(A) (i) (A) The authority shall establish minimum mitigation and environmental standards that a landowner is required to meet to qualify for the use of property tax differential under Subsection (1)(a)(ix) in the landowner's development.] [(B)] (2)(2)(a) (a) The authority shall establish minimum mitigation and environmental standards, as described in this Subsection (2), that a landowner is required to meet in order to qualify for the use of property tax differential under Subsection (1) in the landowner's development.

(b) Minimum mitigation and environmental standards established under Subsection [(1)(b)(i)(A)][ (2)- (a)15 shall- includeS.B. a standard prohibiting the use of property tax differential as a business recruitment incentive, as defined in Section 11-58-603, for new commercial or industrial development or an expansion of existing commercial or industrial development within {[the]} authority jurisdictional land{ that is in the capital city} if the new or expanded development will consume, when calculated on an [annual] annualized basis, more than [200,000 gallons of potable water per day] the maximum daily potable water use permitted within the service area of a municipal retail water provider supplying potable water to the development, as established by that provider's or municipality's adopted ordinances, policies, service regulations, or development agreements.

225 Enrolled Copy (1)(b)(i)(A)] (2)(a) shall include a standard prohibiting the use of property tax differential as a business recruitment incentive, as defined in Section 11-58-603, for new commercial or industrial development or an expansion of existing commercial or industrial development within the authority jurisdictional land if the new or expanded development will consume, when calculated on an [annual] annualized basis, more than [200,000 gallons of potable water per day] the maximum daily potable water use permitted within the service area of a municipal retail water provider supplying potable water to the development, as established by that provider's or municipality's adopted ordinances, policies, service regulations, or development agreements.

- 16 - SB0225 compared with SB0225S03 [(A)] (i) the municipality in which the development is expected to occur, for development expected to occur within a municipality;

[(iii)] (d) The authority may not use property tax differential under Subsection [(1)(a)(viii)][ (1)(a)(viii)] (1)(h) for a landowner's development in a project area unless the minimum mitigation and environmental standards established under this Subsection (2) are followed with respect to that landowner's development.

[(5)] (6)(6)(a) (a) The authority may use up to 10% of the general differential revenue generated from a project area to pay for affordable housing within or near the project area.

(b) In using general differential revenue described in Subsection [(5)(a)] (6)(a), the authority- may16 provide- generalEnrolled differentialCopy revenueS.B. generated from a project area to a non-profit housing fund, as defined in Section 17C-1-102:

225 authority may provide general differential revenue generated from a project area to a non-profit housing fund, as defined in Section 17C-1-102:

-11-68-201 17. - SB0225 compared with SB0225S03 11-68-201.

(3)(3)(a) (a) The fair corporation is dissolved and ceases to exist, subject to any winding down and other actions necessary for a transition to the authority.

and (ii)- except17 as- otherwiseS.B. provided by statute, all state expositions, including setting the time, place, and purpose of any state exposition;

225 Enrolled Copy (ii) except as otherwise provided by statute, all state expositions, including setting the time, place, and purpose of any state exposition;

- 18 - SB0225 compared with SB0225S03 (d) use generally accepted accounting principles in accounting for the authority's assets, liabilities, and operations;

(iv) includes the award of premiums for the best specimens of the exhibited articles and- animals;18 - Enrolled Copy S.B.

225 and animals;

and (l) publish a list of premiums that will be awarded at the annual exhibition described in Subsection (4)(4)(j) (j) for the best specimens of exhibited articles and animals.

- 19 - SB0225 compared with SB0225S03 (6) The authority may:

(b)(b)(i) (i) participate in the state's Risk Management Fund created under Section 63A-4-201 or any captive insurance company created by the risk manager;

(i) subject to Subsection (11), acquire any interest in real property that the board considers- necessary19 or- advisableS.B. to further a purpose of the authority or facilitate the authority's fulfillment of a duty under this chapter;

225 Enrolled Copy considers necessary or advisable to further a purpose of the authority or facilitate the authority's fulfillment of a duty under this chapter;

- 20 - SB0225 compared with SB0225S03 (c) Title 52, Chapter 4, Open and Public Meetings Act;

(8)(8)(a) (a) Before the authority executes a lease described in Subsection (6)(g) with a term of 10 or more years and subject to the powers and responsibilities of the Utah Fairpark Area Investment and Restoration District, created in Section 11-70-201, the authority shall:

(i)- execute20 the- proposedEnrolled lease,Copy eitherS.B. as proposed or with changes recommended by the Executive Appropriations Committee;

225 (i) execute the proposed lease, either as proposed or with changes recommended by the Executive Appropriations Committee;

(9)(9)(a) (a) Subject to Subsection (9)(b), a department, division, or other instrumentality of the state and a political subdivision of the state shall cooperate with the authority to the fullest extent possible to provide whatever support, information, or other assistance the authority requests that is reasonably necessary to help the authority fulfill the authority's duties and responsibilities under this chapter.

- 21 - SB0225 compared with SB0225S03 (10) The authority may share authority revenue with a municipality in which the fair park land is located, as provided in an agreement between the authority and the municipality, to pay for municipal services provided by the municipality.

(11)(11)(a) (a) As used in this Subsection (11), "new land" means land that, if acquired by the authority, would result in the authority having acquired over three acres of land more than the land described in Subsection 11-68-101(9)(a).

Effective date.

This bill takes effecteffect: {on May 6, 2026.} :

or (c)- in21 the- caseS.B. of a veto, the date of veto override.

3-3-26225 4:35Enrolled PMCopy -(c) 22in -the case of a veto, the date of veto override.

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