(1) (a) Except as provided in Subsection (1)(b), a county or municipality may not offer an incentive for a large load data center that is not located within a zone. (b) Subsection (1)(a) does not apply to: (i) a project area established before May 6, 2027; or (ii) an agreement between a county or municipality and a private entity that was executed before May 6, 2027. (2) In addition to the requirements described in Part 2, Creation of Regionally Significant Development Zones, a creating entity that proposes a zone shall include in the proposal: (a) a description of the proposed boundaries of the zone; (b) an assessment of existing electrical energy infrastructure within and proximate to the proposed zone; (c) a development plan that includes: (i) anticipated infrastructure improvements; (ii) projected economic benefits to the county or municipality; and (iii) evidence of local support, as applicable; and (d) any other information required by the committee. (3) A proposal for a zone described in this part: (a) shall include the diversion of all personal property tax revenue generated within the zone, as described in Subsection 63N-3a-203(4)(c)(ii); and (b) may include a request to: (i) capture up to 60% of the property tax increment generated within the zone; and (ii) divert up to 100% of personal property tax revenue generated within the zone. (4) A proposed zone may not overlap with: (a) a project area designated by a community reinvestment agency; or (b) a project area created by the Utah Inland Port Authority or the Military Installation Development Authority.
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