AI-generated summary. We recommend consulting the bill text for important decisions.

When certain non-residential commercial real property changes hands, this bill requires the closing agent to submit a declaration to the Multicounty Appraisal Trust — a statewide property assessment body — within 10 days of the sale, including the sale price, buyer and seller names, and property details; sellers can satisfy this requirement instead by submitting the information directly to a qualifying private property database that county assessors can access for free. The bill also classifies sale price information shared this way as not a "private record" under Utah's Government Records Access and Management Act, allowing it to be shared with the State Tax Commission, county assessors, and parties involved in property tax appeals — though county assessors cannot use a single sale's price as the sole basis for reassessing that specific property.