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Utah House OKs HB 13 to Create Infrastructure Financing Districts to Spur Homebuilding
Summary
The House passed first-substitute HB 13 on Feb. 5, 2024, 74–0. Sponsor Representative Dunnigan said the bill creates a financing tool allowing developers to access tax‑exempt bond markets at lower interest rates to fund infrastructure on entitled but unbuilt lots, and requires proof that a lot’s proportional assessment is paid before occupancy to protect buyers.
The Utah House of Representatives on Feb. 5 passed first‑substitute House Bill 13, creating a new financing mechanism intended to help build out entitled but unbuilt residential lots across the state.
Representative James A. Dunnigan, the bill sponsor, told colleagues the measure allows developers to use private, tax‑exempt bond financing for infrastructure — roads, sewers and utilities — at lower interest rates than private construction loans. "Instead of paying 10 to 15%, which they could, it's 5 to 7%," Dunnigan said, arguing the cheaper financing would encourage developers to put in infrastructure and unlock housing supply.
The bill creates an assessment area and authorizes a developer, with approval from a percentage of landowners and…
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