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• 2019 General Session
• S.B. 56

S.B. 56 Community Reinvestment Agency Report Amendments

• Bill Text
• Status
• Hearings/Debate

Bill Sponsor: Sen. Henderson, Deidre M.

Floor Sponsor: Rep. Moss, Jefferson

• Drafting Attorney: Michael E. Curtis
• Fiscal Analyst: Sean C. Faherty

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• Bill Text
  • Introduced
  • Enrolled (Currently Displayed)

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• Other Versions
  • S.B. 56
    Substitute Sponsor:
    

    • Introduced
    • Amended
      • Amended Pages Only
    • Fiscal Note
    • House Transmittal Letter 1
    • Senate Transmittal Letter 1
    • Senate Committee Amendment 1(passed)
    • Agency Perf Note

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• Related Documents
  • Fiscal Note
  • SB0056 comparison
  • Agency Perf Note

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• Information
  • Last Action: 19 Mar 2019, Senate/ to Governor
  • Last Location: Executive Branch - Governor
  • Effective Date: 14 May 2019
  • Session Law Chapter: 021

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• Similar Bills
  • Counties
  • Public Funds and Accounts
  • Community Reinvestment Agencies
  • Limited Purpose Local Government Entities
  • Political Subdivisions (Local Issues)

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• Sections Affected
  • 17C-1-603

Enrolled

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S.B. 56

1     COMMUNITY REINVESTMENT AGENCY REPORT
2     AMENDMENTS
3     2019 GENERAL SESSION
4     STATE OF UTAH
5     Chief Sponsor: Deidre M. Henderson
6     House Sponsor: Jefferson Moss
7     

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8     LONG TITLE
9     General Description:
10          This bill modifies the method by which a community reinvestment agency submits
11     required information.
12     Highlighted Provisions:
13          This bill:
14          ▸     requires the Governor's Office of Economic Development to create a publicly
15     accessible database to track certain information about each community reinvestment
16     agency located within the state;
17          ▸     allows the Governor's Office of Economic Development to contract with a third
18     party to create and administer the state database;
19          ▸      requires each community reinvestment agency to annually upload required
20     information to the state database; and
21          ▸     makes technical and conforming changes.
22     Money Appropriated in this Bill:
23          None
24     Other Special Clauses:
25          None
26     Utah Code Sections Affected:
27     AMENDS:
28          17C-1-603, as last amended by Laws of Utah 2018, Chapter 364

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29     

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30     Be it enacted by the Legislature of the state of Utah:
31          Section 1. Section 17C-1-603 is amended to read:
32          17C-1-603. Reporting requirements -- County to maintain a database.
33          [(1) Beginning in 2016, on or before November 1 of each year, an agency shall:]
34          [(a) prepare an annual report as described in Subsection (2);]
35          [(b) submit the annual report electronically to the community in which the agency
36     operates, the county auditor, the State Tax Commission, the State Board of Education, and each
37     taxing entity from which the agency receives project area funds;]
38          [(c) post the annual report on the agency's website; and]
39          [(d) ensure that the community in which the agency operates posts the annual report on
40     the community's website.]
41          [(2) The annual report shall, for each active project area whose project area funds
42     collection period has not expired, contain the following information:]
43          (1) On or before June 30, 2021, the Governor's Office of Economic Development shall:
44          (a) create a database to track information for each agency located within the state; and
45          (b) make the database publicly accessible from the office's website.
46          (2) (a) The Governor's Office of Economic Development may:
47          (i) contract with a third party to create and maintain the database described in
48     Subsection (1); and
49          (ii) charge a fee for a county, city, or agency to provide information to the database
50     described in Subsection (1).
51          (b) The Governor's Office of Economic Development shall make rules, in accordance
52     with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, to establish a fee schedule for
53     the fee described in Subsection (2)(a)(ii).
54          (3) Beginning in 2021, on or before December 31 of each calendar year, an agency
55     shall, for each active project area for which the project area funds collection period has not

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56     expired, provide to the database described in Subsection (1) the following information:
57          (a) an assessment of the change in marginal value, including:
58          (i) the base year;
59          (ii) the base taxable value;
60          (iii) the prior year's assessed value;
61          (iv) the estimated current assessed value;
62          (v) the percentage change in marginal value; and
63          (vi) a narrative description of the relative growth in assessed value;
64          (b) the amount of project area funds the agency received for each year of the project
65     area funds collection period, including:
66          (i) a comparison of the actual project area funds received for each year to the amount of
67     project area funds forecasted for each year when the project area was created, if available;
68          (ii) (A) the agency's historical receipts of project area funds, including the tax year for
69     which the agency first received project area funds from the project area; or
70          (B) if the agency has not yet received project area funds from the project area, the year
71     in which the agency expects each project area funds collection period to begin;
72          (iii) a list of each taxing entity that levies or imposes a tax within the project area and a
73     description of the benefits that each taxing entity receives from the project area; and
74          (iv) the amount paid to other taxing entities under Section 17C-1-410, if applicable;
75          (c) a description of current and anticipated project area development, including:
76          (i) a narrative of any significant project area development, including infrastructure
77     development, site development, participation agreements, or vertical construction; and
78          (ii) other details of development within the project area, including:
79          (A) the total developed acreage;
80          (B) the total undeveloped acreage;
81          (C) the percentage of residential development; and
82          (D) the total number of housing units authorized, if applicable;

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83          (d) the project area budget , if applicable, or other project area funds analyses,
84     including:
85          (i) each project area funds collection period, including:
86          (A) the start and end date of the project area funds collection period; and
87          (B) the number of years remaining in each project area funds collection period;
88          (ii) the amount of project area funds the agency is authorized to receive from the
89     project area cumulatively and from each taxing entity, including:
90          (A) the total dollar amount; and
91          (B) the percentage of the total amount of project area funds generated within the
92     project area;
93          (iii) the remaining amount of project area funds the agency is authorized to receive
94     from the project area cumulatively and from each taxing entity; and
95          (iv) the amount of project area funds the agency is authorized to use to pay for the
96     agency's administrative costs, as described in Subsection [17B-1-409(1)] 17C-1-409(1),
97     including:
98          (A) the total dollar amount; and
99          (B) the percentage of the total amount of all project area funds;
100          (e) the estimated amount of project area funds that the agency is authorized to receive
101     from the project area for the current calendar year;
102          (f) the estimated amount of project area funds to be paid to the agency for the next
103     calendar year;
104          (g) a map of the project area; and
105          (h) any other relevant information the agency elects to provide.
106          (4) (a) Until the Governor's Office of Economic Development creates a database as
107     required in Subsection (1), an agency shall, on or before November 1 of each calendar year,
108     electronically submit a report to:
109          (i) the community in which the agency operates;

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110          (ii) the county auditor;
111          (iii) the State Tax Commission;
112          (iv) the State Board of Education; and
113          (v) each taxing entity from which the agency receives project area funds.
114          (b) An agency shall ensure that the report described in Subsection (4)(a):
115          (i) contains the same information described in Subsection (3); and
116          (ii) is posted on the website of the community in which the agency operates.
117          [(3)] (5) [A report prepared] Any information an agency submits in accordance with
118     this section:
119          (a) is for informational purposes only; and
120          (b) does not alter the amount of project area funds that an agency is authorized to
121     receive from a project area.
122          [(4)] (6) The provisions of this section apply regardless of when the agency or project
123     area is created.