41-1524
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41-1524. Application for designation of an enterprise zone; term; renewal (Rpld. 7/1/11) A. The commission shall apply to the department to designate a qualified area in the county as an enterprise zone. The application shall be in a form prescribed by the department and shall include: 1. A map showing the proposed boundaries of the enterprise zone. 2. Evidence and certification of notice and a hearing held by the applicant before submitting the application. 3. A written narrative explaining the area and the development goals and strategy for the zone, the vacancy rates of residential, commercial and industrial structures and land use information. 4. A plan for the management or administrative responsibility for the zone. 5. Incentives and initiatives that local governments in the proposed zone will provide or establish to encourage businesses to locate in the proposed zone. These may include economic or financial incentives or priorities, increased public services, improved infrastructure, structural rehabilitation and regulatory simplification and expedition. B. If the department finds after a public hearing that the area of application qualifies under this article, the department shall certify the area as an enterprise zone. The department shall provide notice of the certification to the department of revenue, the county assessor of any affected county, any affected municipality, the enterprise zone commission and each legislator whose district includes all or part of the zone. C. The department shall not certify the formation of more than six new enterprise zones in this state in any calendar year. This subsection does not apply to the renewal of existing enterprise zones with no change in existing boundaries or to zones certified in the first year under the most recent United States decennial census poverty data. D. The department shall set a termination date for the enterprise zone which shall be not more than five years after the date the zone is designated, unless otherwise provided by law. During the last year before termination the commission may apply to renew the enterprise zone, and the department after a public hearing may renew the zone for consecutive terms of up to five years if the zone continues to meet the criteria prescribed by this article. The renewal of an enterprise zone may not include a change in the zone boundaries. |