Utah Admin. Code R940-10-1 - Purpose and Authority
(1) The
purpose of this rule is to establish a process for state participation in a
transportation reinvestment zone created under Section
11-13-227. The objective of state
participation in a TRZ is to enhance the state transportation system by
accelerating projects that are likely to stimulate increased local tax revenue
that can be used to offset the cost of constructing those projects.
(2) The commission and department will only
consider participating in a TRZ, as described in this rule, if the TRZ
includes:
(a) a state highway
project;
(b) a project on a local
highway that is eligible for federal funds; or
(c) an eligible transit project.
(3) This rule is enacted under the
authority of Title 63G, Chapter 3, Utah Administrative Rulemaking Act and
Section 72-1-201.
Notes
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