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Committee adopts substitute to change tax split and coordination rules for Point of the Mountain development
Summary
The House Economic Development Committee adopted a second substitute to SB 278, clarifying coordination with Draper City, phasing limits for the first 105 acres and changing tax‑capture splits so 25% remains with the Point of the Mountain authority for operations and 75% goes to taxing entities/state; the committee gave a favorable recommendation unanimously.
Senator Stevenson told the House Economic Development and Workforce Services Committee that SB 278 modifies the Point of the Mountain State Land Use Authority’s redevelopment rules, clarifies coordination with Draper City and adjusts how tax increments are distributed.
“The prison has been completely torn down,” Stevenson said, summarizing the project’s status and the authority’s role in redevelopment. He said the first phase will focus on 105 acres in the center of a…
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