SB0268S03 | First Home Investment Zone Act

Description
General Description: 

This bill enacts the First Home Investment Zone Act.

Highlighted Provisions: 

This bill enacts the First Home Investment Zone Act which would provide affordable, owner-occupied housing. It also takes the tax increment from schools.

Bill Details
Bill Number: 
SB0268S03
Year: 
2024
Status: 
Governor Signed
Last Action: 
Mar 21, 2024
Sponsor
Senator
Wayne A. Harper
Republican - District 16
Fiscal Note
Fiscal Note Amount: 
$0
None
View Fiscal Note
Utah PTA Response
Utah PTA Position
Oppose w/ Comment

While Utah PTA supports adequate funding for federal and state housing programs that will increase the number of affordable housing units, we are also resolved to encourage the legislature to take all necessary steps to ensure stable and adequate funding mechanisms to properly facilitate the education of all students including but not limited to areas of high growth. Removal of the tax increment income from LEAs, severely hinders their ability to properly manage the potential growth due to increased housing.

Utah PTA Resolution: 
EDU 2023-1 | Education Funding
Impact on Children: 

While this would create more affordable housing for families and children it takes away funding received by LEAs through the tax increment. This would make it difficult for schools to support the potential increased growth.

Commission: 
Community Engagement
Utah PTA Public Policy Program
National PTA and Utah PTA Resolutions: 

Be it resolved, that Utah PTA and its constituent associations support the maintenance of a stable and adequate funding mechanism to support public education based on the following principles: enrollment growth; inflation; support of a K-12 education Economic Stabilization Restricted Account; funding the USBE Strategic Plan.

Utah PTA Legislative Policy: 

1. Equity in the form of equal justice, privileges, opportunities, and responsibilities in every phase of life for all children and youth, while recognizing that each child is unique with individual needs and talents.
4. Prioritizing the needs of all children and youth, while adhering to fiscal responsibility in government.