11-13-311 - Credit for impact alleviation payments against in lieu of ad valorem property taxes -- Federal or state assistance.
11-13-311. Credit for impact alleviation payments against in lieu of ad valoremproperty taxes -- Federal or state assistance.
(1) In consideration of the impact alleviation payments and means provided by theproject entity or other public agency pursuant to the contracts and determination orders, theproject entity or other public agency, as the case may be, shall be entitled to a credit against thefees paid in lieu of ad valorem property taxes as provided by Section 11-13-302, ad valoremproperty or other taxation by, or other payments in lieu of ad valorem property taxation or otherform of tax equivalent payments required by any candidate which is a party to an impactalleviation contract or board order.
(2) Each candidate may make application to any federal or state governmental authorityfor any assistance that may be available from that authority to alleviate the impacts to thecandidate. To the extent that the impact was attributable to the project or to the facilitiesproviding additional project capacity, any assistance received from that authority shall becredited to the alleviation obligation with respect to the project or the facilities providingadditional project capacity, as the case may be, in proportion to the percentage of impactattributable to the project or facilities providing additional project capacity, but in no event shallthe candidate realize less revenues than would have been realized without receipt of anyassistance.
(3) With respect to school districts the fee in lieu of ad valorem property tax for the stateminimum school program required to be paid by the project entity or other public agency underSubsection 11-13-302(2)(b)(i) shall be treated as a separate fee and does not affect any credits foralleviation payments received by the school districts under Subsection 11-13-302(2)(b)(i), orSections 11-13-305 and 11-13-306.
Amended by Chapter 378, 2010 General Session