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House backs tax-increment tweak to help fund three I‑15 interchanges
Summary
The House approved HB423, allowing specified redevelopment agencies to use incremental property-tax revenue for construction of three Interstate 15 interchanges and to extend capture for the redevelopment period plus seven years; the bill passed after amendment and a floor vote of 71–3.
The House on Feb. 26 approved House Bill 423, Redevelopment Agency Tax Increment Amendments, which allows incremental financing captured by redevelopment agencies in four South Salt Lake County municipalities to be used for construction, installation and reconstruction of three Interstate 15 interchanges.
Sponsor Representative Greg J. Curtis said the bill permits redevelopment increment…
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