This bill creates the Beehive Development Agency and authorizes the chief executive officer of Governor's Office of Economic Opportunity to propose significant community impact project plans and associated project areas to the Beehive Development Agency. This bill: - defines terms and modifies definitions; - provides a severability provision; - creates the Beehive Development Agency (agency) under Utah Constitution, Article XI, as a political subdivision of the state that is an independent, nonprofit, separate body corporate and politic, with perpetual succession, and a public corporation; - provides that appropriations to the agency are nonlapsing; - establishes the agency board and describes the agency powers and duties; - provides that the agency may designate up to three significant community impact project areas each calendar year; - describes the purposes of a significant community impact project; - creates a revolving loan fund and establishes a loan committee; - authorizes the agency to create a public infrastructure district for a significant community project area; - describes the potential revenue sources of a significant community impact project area, including property tax differential, sales tax differential, and revenue generated by certain taxes; - repeals provisions establishing the Governor's Office of Economic Opportunity (office) board of directors and the Unified Economic Opportunity Commission; - creates the Economic Opportunity Coordinating Council (council); - changes the executive director of the office to the chief executive officer; - provides that the chief executive officer shall:receive direction from the council regarding statewide strategic objectives;establish strategies for and actively recruit targeted industries identified by the council;encourage a business to permanently relocate to, or significantly expand operations in, the state;establish strategies for and actively support entrepreneurship and small business development;coordinate the economic development activities of the office, state, and authorities including the Military Installation Development Authority, the Utah Inland Port Authority, the Point of the Mountain State Land Authority, the Utah Lake Authority, the State Fair Park Authority, and the Utah Fairpark Area Investment and Restoration District; andcoordinate with various departments and officials in order to consolidate the Division of Housing and Community Development within the office by July 1, 2026; - provides a sales and use tax exemption on certain construction materials associated with a project area that is part of an approved significant community impact project area; - provides a formula for the State Tax Commission to administer certain sales and use taxes in regard to a project area in an approved significant community impact project area; - removes the sunset on the Utah Housing Corporation; and - makes technical and conforming changes.