Utah Code § 59-3-102 — Definitions

As used in this chapter:
(1)
"Tax equivalent payment" means a payment required or authorized by statute to be made in lieu of ad valorem taxes on tax exempt property pursuant to a contract entered into under statutory authority and filed with the county assessor of the county in which the property is located.
(2)
"Tax equivalent property" means property on which any tax equivalent payment is made.