2023 Utah Code › Title 17C - Limited Purpose Local Government Entities - Community Reinvestment Agency Act › Chapter 1 - Agency Operations › Part 6 - Agency Annual Report, Budget, and Audit Requirements › Section 603 - Reporting requirements -- Governor's Office of Economic Opportunity to maintain a database.

Effective 5/3/2023
17C-1-603.
Reporting requirements -- Governor's Office of Economic Opportunity to maintain a database.
(1) On or before June 1, 2022, the Governor's Office of Economic Opportunity shall:
(a) create a database to track information for each agency located within the state; and
(b) make the database publicly accessible from the office's website.
(2)
(a) The Governor's Office of Economic Opportunity may:
(i) contract with a third party to create and maintain the database described in Subsection (1); and
(ii) charge a fee for a county, city, or agency to provide information to the database described in Subsection (1).
(b) The Governor's Office of Economic Opportunity shall make rules, in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, to establish a fee schedule for the fee described in Subsection (2)(a)(ii).
(3) Beginning in 2022, on or before June 30 of each calendar year, an agency shall, for each active project area for which the project area funds collection period has not expired, provide to the database described in Subsection (1) the following information:
(a) an assessment of the change in marginal value, including:
(i) the base year;
(ii) the base taxable value;
(iii) the prior year's assessed value;
(iv) the estimated current assessed value;
(v) the percentage change in marginal value; and
(vi) a narrative description of the relative growth in assessed value;
(b) the amount of project area funds the agency received for each year of the project area funds collection period, including:
(i) a comparison of the actual project area funds received for each year to the amount of project area funds forecasted for each year when the project area was created, if available;
(ii)
(A) the agency's historical receipts of project area funds, including the tax year for which the agency first received project area funds from the project area; or
(B) if the agency has not yet received project area funds from the project area, the year in which the agency expects each project area funds collection period to begin;
(iii) a list of each taxing entity that levies or imposes a tax within the project area and a description of the benefits that each taxing entity receives from the project area; and
(iv) the amount paid to other taxing entities under Section 17C-1-410, if applicable;
(c) a description of current and anticipated project area development, including:
(i) a narrative of any significant project area development, including infrastructure development, site development, participation agreements, or vertical construction; and
(ii) other details of development within the project area, including:
(A) the total developed acreage;
(B) the total undeveloped acreage;
(C) the percentage of residential development; and
(D) the total number of housing units authorized, if applicable;
(d) the project area budget, if applicable, or other project area funds analyses, including:
(i) each project area funds collection period, including:
(A) the start and end date of the project area funds collection period; and
(B) the number of years remaining in each project area funds collection period;
(ii) the amount of project area funds the agency is authorized to receive from the project area cumulatively and from each taxing entity, including:
(A) the total dollar amount; and
(B) the percentage of the total amount of project area funds generated within the project area;
(iii) the remaining amount of project area funds the agency is authorized to receive from the project area cumulatively and from each taxing entity; and
(iv) the amount of project area funds the agency is authorized to use to pay for the agency's administrative costs, as described in Subsection 17C-1-409(1), including:
(A) the total dollar amount; and
(B) the percentage of the total amount of all project area funds;
(e) the estimated amount of project area funds that the agency is authorized to receive from the project area for the current calendar year;
(f) the estimated amount of project area funds to be paid to the agency for the next calendar year;
(g) a map of the project area; and
(h) any other relevant information the agency elects to provide.
(4) Any information an agency submits in accordance with this section:
(a) is for informational purposes only; and
(b) does not alter the amount of project area funds that an agency is authorized to receive from a project area.
(5) The provisions of this section apply regardless of when the agency or project area is created.
(6) On or before September 1 of each year, the Governor's Office of Economic Opportunity shall prepare and submit an annual written report to the Political Subdivisions Interim Committee that identifies:
(a) the agencies that complied with the reporting requirements of this section during the preceding reporting period; and
(b) any agencies that failed to comply with the reporting requirements of this section during the preceding reporting period.
Amended by Chapter 499, 2023 General Session