Auditing. (1) At or before the October interim meeting of the Political Subdivisions Interim Committee, the program manager shall present: (a) annually, a written report of the information in the database that includes: (i) a list of TIF entities that failed to comply with the requirements of Sections 59-36-201, 59-36-203, and 59-36-301 during the preceding reporting period; (ii) a statewide summary of: (A) the number of project areas receiving tax increment; and (B) the total acres included in project areas receiving tax increment; (iii) for each county, a summary of: (A) the number of project areas receiving tax increment; (B) the total acres included in project areas; (C) the total acres included in project areas compared to the total taxable acres in the county; (D) the percentage of property tax for all taxing entities within the county that is allocated as tax increment; (E) the total amount of tax increment projected in all project area budgets; (F) the estimated tax increment from project area budgets that has not yet been received; (G) a description of any project area that is approved but has not received tax increment; and (H) project areas dissolved during the previous year; (iv) information about the benefits that project areas provide to each county and the state, which shall include information relating to two or more of the following: (A) the average percentage change in assessed value for each county within project areas during the reporting period; (B) the percentage change in assessed value within a county, excluding project areas, during the reporting period; (C) a comparison of the growth rate between project areas and areas of the county that are not within a project area; (D) public infrastructure paid for with tax increment; (E) publicly accessible parks, trails, plazas, or other public amenities paid for with tax increment; (F) affordable housing units tax increment creates, preserves, or supports; and (G) new jobs created with tax increment; and (v) any recommendation for legislation; and (b) every three years, beginning in 2030, a copy of the results of the independent audit described in Subsection (3). (2) (a) If the program manager does not receive, on or before April 1 of the year the information is due, the information that a TIF entity is required to provide under Section 59-36-301, the program manager shall: (i) refer the noncompliant TIF entity to the state auditor for review; and (ii) post a notice on the STATS website identifying the noncompliant TIF entity and describing the TIF entity's noncompliance. (b) If, for two consecutive years, the program manager does not receive information a TIF entity is required to provide under Section 59-36-301: (i) the program manager shall notify, no later than April 1 of the second consecutive year, the county auditor and the county treasurer of the county in which the noncompliant TIF entity is located of the TIF entity's noncompliance; and (ii) upon receiving the notice described in Subsection (2)(b)(i), the county treasurer shall withhold from the TIF entity 20% of the amount of tax increment the TIF entity is entitled to receive. (c) (i) Subject to Subsection (2)(c)(ii), the county treasurer may not withhold funds as described in Subsection (2)(b)(ii) if the disbursement of tax increment is necessary to meet contractual or debt service obligations. (ii) The TIF entity shall submit to the county treasurer evidence of the contractual or debt service obligation and the need for tax increment to serve the contract or debt. (d) If, after having funds withheld under Subsection (2)(b)(ii), a TIF entity complies with Section 59-36-301: (i) the program manager shall notify the county auditor and the county treasurer that the TIF entity complied with Section 59-36-301; and (ii) the county treasurer shall disburse the withheld funds to the TIF entity. (3) Every three years, beginning in 2030, the program manager shall obtain an independent audit of the database and the information reported to the Political Subdivisions Interim Committee in accordance with Subsection (1). (4) (a) The database, reporting, and auditing requirements of this part are a supplement to the state auditor's authority to audit TIF entities. (b) The program manager is not subject to audit by the state auditor for any reason beyond the audit of the program manager's receipt of government funds to administer STATS.
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