UT SB0243

Reduces the maximum property tax increment capture rate for housing and transit reinvestment zones proposed by municipalities or counties at commuter rail stations from 80% to 50%

Shortens the tax increment capture term from 25 consecutive years to 15 consecutive years per parcel for commuter rail station zones

Reduces the overall collection period from 45 years to 30 years for commuter rail station housing and transit reinvestment zones

Removes the restriction limiting housing and transit reinvestment zone proposals to no more than three property tax increment collection periods during the applicable timeframe

Takes effect on May 6, 2026