Title 17C, Limited Purpose Local Government Entities - Community Reinvestment Agency Act:

1. (1) if the community reinvestment project area plan captures less than 80% of the property tax increment from a taxing entity, or if a taxing entity is not participating in the community reinvestment project area plan, the housing and transit reinvestment zone may capture the difference between:

   1. (a) 80%; and
   2. (b) the percentage of property tax increment captured in accordance with the community reinvestment project area plan; and
2. (2) if a community reinvestment project area plan expires before the housing and transit reinvestment zone, the housing and transit reinvestment zone may capture the property tax increment allocated to the community reinvestment project area plan for any remaining portion of the term of the housing and transit reinvestment zone and the base year shall be updated in accordance with Subsection 63N-23-101(4).
3. (3) A zone that overlaps any portion of an existing community reinvestment project may capture up to the maximum allowable increment of the increment generated above the zone base year.

Renumbered and Amended by Chapter 94, 2026 General Session