Utah Amends Tax Increment Financing Act for Development Zones

The Utah Governor signed a law that amends the Tax Increment Financing Act for regionally significant development zones. The law creates an increment financing committee to review proposals for these zones, establishes parameters for using tax revenue to fund development within designated areas, and creates a new 6 percent county energy excise tax. The law takes effect on May 6. [H.B. 507, enacted 03/25/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.