63M-5-201 - Prepayment of ad valorem property taxes on natural resources or industrial facility. - Utah Statutes

63M-5-201. Prepayment of ad valorem property taxes on natural resources orindustrial facility.
The developer also may prepay, with the consent of the governing bodies of the units oflocal government affected, to the county treasurer, or to other persons authorized by thegoverning body of a unit of local government under Section 63M-5-306, a portion of the advalorem property taxes which the developer anticipates will be imposed by the unit of localgovernment under Title 59, Chapter 2, Part 9, in connection with the natural resources orindustrial facility. Ad valorem property taxes prepaid under this chapter may not act as anabatement of the ad valorem property tax but rather shall be construed as a prepayment forwhich, notwithstanding Section 59-2-1321 or any statute of limitations to the contrary, a creditwill be given the developer making the prepayment at the time the ad valorem property taxesbecome due and otherwise payable.

Renumbered and Amended by Chapter 382, 2008 General Session