Utah Code § 17C-1-601.1 Title.
17C-1-601.1. Title.
This part is known as "Agency Annual Report, Budget, and Audit Requirements."
Enacted by Chapter 350, 2016 General Session
Agency Annual Report, Budget, and Audit Requirements
Utah Code tit. 17C, ch. 17C-1, pt. 17C-1-P6
in effectUtah Code § 17C-1-601.5 Annual agency budget -- Fiscal year -- Public hearing required -- Notice -- Auditor forms -- Requirement to file form.
17C-1-601.5. Annual agency budget -- Fiscal year -- Public hearing required -- Notice -- Auditor forms -- Requirement to file form.
(1) Each agency shall prepare an annual budget of the agency's revenues and expenditures for each fiscal year.
(2) The board shall adopt each agency budget:
(a) for an agency created by a municipality, before June 30; or
(b) for an agency created by a county, before December 15.
(3) The agency's fiscal year shall be the same as the fiscal year of the community that created the agency.
(4)
(a) Before adopting an annual budget, each board shall hold a public hearing on the annual budget.
(b) Each agency shall provide notice of the public hearing on the annual budget for the agency's jurisdiction, as a class A notice under Section 63G-30-102, for at least one week before the day of the public hearing.
(c) Each agency shall make the annual budget available for public inspection at least three days before the date of the public hearing.
(5) The state auditor shall prescribe the budget forms and the categories to be contained in each annual budget, including:
(a) revenues and expenditures for the budget year;
(b) legal fees; and
(c) administrative costs, including rent, supplies, and other materials, and salaries of agency personnel.
(6)
(a) Within 90 days after adopting an annual budget, each board shall file a copy of the annual budget with the auditor of the county in which the agency is located, the State Tax Commission, the state auditor, the State Board of Education, and each taxing entity from which the agency receives project area funds.
(b) The requirement of Subsection (6)(a) to file a copy of the annual budget with the state as a taxing entity is met if the agency files a copy with the State Tax Commission and the state auditor.
Amended by Chapter 435, 2023 General Session
Utah Code § 17C-1-602 Amending the agency annual budget.
17C-1-602. Amending the agency annual budget.
(1) A board may by resolution amend an annual budget.
(2) An amendment to an annual budget that would increase the total expenditures may be made only after a public hearing is held in accordance with Subsection 17C-1-601.5(4).
(3) An agency may not make expenditures in excess of the total expenditures established in the annual budget as the annual budget is adopted or amended.
Amended by Chapter 350, 2016 General Session
Utah Code § 17C-1-603 Reporting requirements.
17C-1-603. Reporting requirements.
An agency shall comply with the requirements described in Title 59, Chapter 36, Tax Increment Financing Reporting.
Repealed and Re-enacted by Chapter 274, 2026 General Session
Amended by Chapter 343, 2026 General Session
Amended by Chapter 373, 2026 General Session
Utah Code § 17C-1-604 Audit requirements.
17C-1-604. Audit requirements.
Each agency shall comply with the audit requirements of Title 51, Chapter 2a, Accounting Reports from Political Subdivisions, Interlocal Organizations, and Other Local Entities Act.
Renumbered and Amended by Chapter 359, 2006 General Session
Utah Code § 17C-1-605 Audit report.
17C-1-605. Audit report.
(1) Each agency required to be audited under Section 17C-1-604 shall, within 180 days after the end of the agency's fiscal year, file a copy of the audit report with the county auditor, the State Tax Commission, the State Board of Education, and each taxing entity from which the agency receives tax increment.
(2) Each audit report under Subsection (1) shall include:
(a) the tax increment collected by the agency for each project area;
(b) the amount of tax increment paid to each taxing entity under Section 17C-1-410;
(c) the outstanding principal amount of bonds issued or other loans incurred to finance the costs associated with the agency's project areas;
(d) the amount of property tax revenue generated under Part 10, Agency Taxing Authority; and
(e) the actual amount expended for:
(i) acquisition of property;
(ii) site improvements or site preparation costs;
(iii) installation of public utilities or other public improvements; and
(iv) administrative costs of the agency.
Amended by Chapter 214, 2021 General Session
Utah Code § 17C-1-606 County auditor report on project areas.
17C-1-606. County auditor report on project areas.
(1)
(a) On or before March 31 of each year, the auditor of each county in which an agency is located shall prepare a report on the project areas within each agency.
(b) The county auditor shall send a copy of each report under Subsection (1)(a) to the agency that is the subject of the report, the State Tax Commission, the State Board of Education, and each taxing entity from which the agency receives tax increment.
(c) On or before March 31 of each year, the county auditor shall submit a copy of each report under Subsection (1)(a) to the program manager, as defined in Section 59-2-1601, for inclusion in the database described in Title 59, Chapter 36, Tax Increment Financing Reporting.
(2) Each report under Subsection (1)(a) shall report:
(a) the total assessed property value within each project area for the previous tax year;
(b) the base taxable value of each project area for the previous tax year;
(c) the tax increment available to be paid to the agency for the previous tax year;
(d) the tax increment requested by the agency for the previous tax year; and
(e) the tax increment paid to the agency for the previous tax year.
(3) Within 30 days after a request by an agency, the State Tax Commission, the State Board of Education, or any taxing entity from which the agency receives tax increment, the county auditor or the county assessor shall provide access to:
(a) the county auditor's method and calculations used to make adjustments under Section 17C-1-408;
(b) the unequalized assessed valuation of an existing or proposed project area, or any parcel or parcels within an existing or proposed project area, if the equalized assessed valuation has not yet been determined for that year;
(c) the most recent equalized assessed valuation of an existing or proposed project area or any parcel or parcels within an existing or proposed project area; and
(d) the tax rate of each taxing entity adopted as of November 1 for the previous tax year.
(4) Each report described in Subsection (1)(a) shall include:
(a) sufficient detail regarding the calculations performed by a county auditor so that an agency or other interested party could repeat and verify the calculations; and
(b) a detailed explanation of any adjustments made to the base taxable value of each project area.
Amended by Chapter 343, 2026 General Session
Utah Code § 17C-1-607 State Tax Commission and county assessor required to account for new growth -- County auditor notification requirements.
17C-1-607. State Tax Commission and county assessor required to account for new growth -- County auditor notification requirements.
Upon the expiration of a project area funds collection period:
(1) the State Tax Commission and the assessor of each county in which a project area is located shall count as new growth the assessed value of property with respect to which the taxing entity is receiving taxes or increased taxes for the first time; and
(2) the county auditor shall:
(a) notify each taxing entity that levies or imposes a tax within the project area of the expiration of the project area funds collection period; and
(b) provide each taxing entity with the calculation of new growth attributed to the project area.
Amended by Chapter 480, 2025 General Session
Utah Code § 17C-1-608 Registration as a limited purpose entity.
17C-1-608. Registration as a limited purpose entity.
(1) Each community reinvestment agency shall register and maintain the community reinvestment agency's registration as a limited purpose entity, in accordance with Section 67-1a-15.
(2) A community reinvestment agency that fails to comply with Subsection (1) or Section 67-1a-15 is subject to enforcement by the state auditor, in accordance with Section 67-3-1.
Enacted by Chapter 256, 2018 General Session
Utah Code § 17C-1-609 Agency reporting limitations.
17C-1-609. Agency reporting limitations.
Except as required under this title, an agency is not required to submit to a public entity information or a report related to the agency's operations or project areas.
Enacted by Chapter 333, 2019 General Session
Source: Utah Office of Legislative Research and General Counsel (le.utah.gov)URL: https://le.utah.gov/xcode/Title17C/Chapter1/17C-1-P6.html?v=C17C-1-P6_2016051020160510Fetched: 10/26/2026