Utah Code § 72-2-201

Current through the 2024 Fourth Special Session

Section 72-2-201 - Definitions

As used in this part:

(1) "Fund" means the State Infrastructure Bank Fund created under Section 72-2-202.

(2) "Infrastructure assistance" means any use of fund money, except an infrastructure loan, to provide financial assistance for transportation projects or publicly owned infrastructure projects, including:

(a) capital reserves and other security for bond or debt instrument financing; or

(b) any letters of credit, lines of credit, bond insurance, or loan guarantees obtained by a public entity to finance transportation projects.

(3) "Infrastructure loan" means a loan of fund money to finance a transportation project or publicly owned infrastructure project.

(4) "Public entity" means a state agency, county, municipality, special district, special service district, an intergovernmental entity organized under state law, or the military installation development authority created in Section 63H-1-201.

(5) "Publicly owned infrastructure project" means a project to improve sewer or water infrastructure that is owned by a public entity.

(6) "Transportation project":

(a) means a project:

(i) to improve a state or local highway;

(ii) to improve a public transportation facility or nonmotorized transportation facility;

(iii) to construct or improve parking facilities;

(iv) that is subject to a transportation reinvestment zone agreement pursuant to Section 11-13-227 if the state is party to the agreement; or

(v) that is part of a housing and transit reinvestment zone created pursuant to Title 63N, Chapter 3, Part 6, Housing and Transit Reinvestment Zone Act;

(b) includes the costs of acquisition, construction, reconstruction, rehabilitation, equipping, and fixturing; and

(c) may only include a project if the project is part of:

(i) the statewide long range plan;

(ii) a regional transportation plan of the area metropolitan planning organization if a metropolitan planning organization exists for the area; or

(iii) a local government general plan or economic development initiative.

Utah Code § 72-2-201

Amended by Chapter 16, 2023 General Session ,§ 149, eff. 2/27/2023.

Amended by Chapter 411, 2021 General Session ,§ 15, eff. 5/5/2021.

Amended by Chapter 121, 2021 General Session ,§ 1, eff. 5/5/2021.

Amended by Chapter 366, 2020 General Session ,§ 10, eff. 5/12/2020.

Amended by Chapter 479, 2019 General Session ,§ 46, eff. 7/1/2019.

Amended by Chapter 216, 2017 General Session ,§ 3, eff. 5/9/2017.

Amended by Chapter 396, 2008 General Session.