This bill:

• defines terms;
• authorizes a municipality to coordinate with a state agency, independent entity, or regional economic development authority with exclusive control over the management, development, and disposition of a parcel of state-owned land in order to ensure future alignment with municipal general plans and land use regulations;
• requires a public infrastructure district created by a development authority to have a majority of the public infrastructure district's board members appointed by the governing body of the development authority, subject to exceptions;
• provides that a public infrastructure district created by a development authority that issues a bond may not issue additional or subsequent bonds but may refinance bonds one time;
• provides that the Point of the Mountain State Land Authority (authority) may coordinate with Draper when the authority intends to dispose of a parcel of point of the mountain state land to a private party;
• modifies the distribution percentages of privilege tax to the authority for certain parcels of point of the mountain state land;
• modifies the percentage of property tax augmentation that shall be distributed to the authority for certain transferred parcels;
• reduces the percentage of state sales and tax revenue the State Tax Commission is directed to distribute to the authority;
• authorizes a borrower to request and the Division of Finance to consider an amendment to a loan agreement to extend or forgive a loan made from certain infrastructure revolving loan funds;
• repeals a sunset date and creates a sunset date; and
• makes technical and conforming changes.