Follows Mar. 2024 UTA LEG passing of First home investment zone act, see #202961.
Bill Provisions
Amends the definitions of affordable housing, base year, and of development area.
Development area does not include portions of land within zone allocated to parks, recreation facilities, open spaces, trails, parking, roadway facilities, public facilities.
Clarifies a 50% owner-occupancy requirements in a first home investment zone and
The amendment also clarifies how extraterritorial homes may be included in the density and the owner-occupancy requirements for the first home investment zone.
Legislative History
On Jan. 21, 2025, bill was introduced in Senate; on Jan. 21, 2025, bill passed Senate.
On Jan. 22, 2025, bill was introduced in House; on Feb. 5, 2025, bill passed House.
On Feb. 11, 2025, bill was sent for enrolling; pending governor review and approval.
Effectiveness
Bill provisions become effective on May 7, 2025.
Mar. 26, 2025 UTA LEG Governor Approval
On Mar. 26, 2025, UTA LEG governor approved bill SB 0023S01, effective May 7, 2025.
Regulators
UTA LEG
Entity Types
CNSM; Corp; MG Orig
Reference
Act, 3/26/2025; Bill SB0023S01, 2/11/2025; Citation: *UTA LEG* 63N-3-1601, 63N-3-1602;
