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House approves limited tax-increment tool for major sporting event venues, including Summit County provision
Summary
The Utah House on March 5 approved substitute language allowing local governments to create limited tax-increment financing zones tied to major sporting-event venues, with an option specific to Summit County for a resort community tax. The bill drew debate over local control and tax-increment impacts before passing 45-27.
Representative Justin Hawkins secured House approval March 5 of a measure that lets cities and counties create narrowly tailored community reinvestment zones to fund infrastructure around major sporting-event venues.
The measure, passed as the fifth substitute to Senate Bill 333, allows local jurisdictions to capture tax increment — up to 75% of property tax increment in a zone — and creates a short-term review board at the state level (referred to in debate as “GoYo”) to review local applications. The bill excludes state sales tax, does not alter land-use…
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