Section 17C-1-405 - Tax increment under a project area plan adopted on or after May 1, 2006(1) This section applies to tax increment under a project area plan adopted on or after May 1, 2006, and before May 10, 2016.(2) Subject to the approval of the taxing entity committee, a board may provide in the urban renewal or economic development project area budget for the agency to be paid:(a) for an urban renewal project area plan that proposes development of an inactive industrial site or inactive airport site, at least 60% of tax increment for at least 20 years; or(b) for each other project, any percentage of tax increment up to 100% or any specified dollar amount of tax increment for any period of time.(3) A resolution or interlocal agreement relating to an agency's use of tax increment for a community development project area plan may provide for the agency to be paid any percentage of tax increment up to 100% or any specified dollar amount of tax increment for any period of time.Amended by Chapter 350, 2016 General Session ,§ 36, eff. 5/10/2016.Amended by Chapter 387, 2009 General Session