| << Previous Section (17C-1-403) | Next Section (17C-1-405) >> |
Limited Purpose Local Government Entities - Community Development and Renewal Agencies Act | |
General Provisions | |
Section 404 | Tax increment under a post-June 30, 1993 project area plan. |
|
17C-1-404. Tax increment under a post-June 30, 1993 project area plan. (1) This section applies to tax increment under a post-June 30, 1993 project area plan adopted before May 1, 2006, only. (2) An agency board may provide in the project area budget for the agency to be paid: (a) if 20% of the project area budget is allocated for housing under Section 17C-2-203: (i) 100% of annual tax increment for 15 years; (ii) 75% of annual tax increment for 24 years; or (iii) if approved by the taxing entity committee, any percentage of tax increment up to 100%, or any specified dollar amount, for any period of time; or (b) if 20% of the project area budget is not allocated for housing under Section 17C-2-203: (i) 100% of annual tax increment for 12 years; (ii) 75% of annual tax increment for 20 years; or (iii) if approved by the taxing entity committee, any percentage of tax increment up to 100%, or any specified dollar amount, for any period of time.
Renumbered and Amended by Chapter 359, 2006 General Session |
| << Previous Section (17C-1-403) | Next Section (17C-1-405) >> |