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(1) In the 20th calendar year after its creation under this part, an agriculture protection area, industrial protection area, or critical infrastructure materials protection area, as the case may be, shall be reviewed, under the provisions of this section, by:
(a) the county legislative body, if the relevant protection area is within the unincorporated part of the county; or
(b) the municipal legislative body, if the relevant protection area is within the municipality.
(2)
(a) In the 20th year, the applicable legislative body may:
(i) request the planning commission and advisory board to submit recommendations about whether the agriculture protection area, industrial protection area, or critical infrastructure materials protection area, as the case may be, should be continued, modified, or terminated;
(ii) at least 120 days before the end of the calendar year, hold a public hearing to discuss whether the relevant protection area, should be continued, modified, or terminated;
(iii) give notice of the hearing using the same procedures required by Section 17-41-302; and
(iv) after the public hearing, continue, modify, or terminate the relevant protection area.
(b) If the applicable legislative body modifies or terminates the agriculture protection area, industrial protection area, or critical infrastructure materials protection area, the applicable legislative body shall file an executed document containing the legal description of the relevant protection area, with the county recorder of deeds.
(3) If the applicable legislative body fails affirmatively to continue, modify, or terminate the agriculture protection area, industrial protection area, or critical infrastructure materials protection area, as the case may be, in the 20th calendar year, the relevant protection area is considered to be reauthorized for another 20 years.