Utah Administrative Code
Topic - Environmental Quality
Title R305 - Administration
Rule R305-4 - Clean Fuels and Emission Reduction Technology Program
Section R305-4-9 - Loan Program Limitations
Universal Citation: UT Admin Code R 305-4-9
Current through Bulletin 2024-18, September 15, 2024
(1) Loan application shall not be approved if:
(a)
awarding a loan to an applicant would result in the department's inability to
fulfill its obligations under this program or this rule;
(b) the applicant does not meet the approval
requirements of Sections
R305-4-4 and
R305-4-5, and the project
eligibility requirements of Rule R307-123;
(c) the fund balance is zero;
(d) awarding a loan to an applicant would
result in the fund balance being less than zero;
(e) the OEM clean vehicle purchased with the
loan funds has previously been titled, registered, or driven more than 7,500
miles by a person or entity other than the applicant;
(f) the amount of a loan for any vehicle will
exceed the requirements in Subsection
19-1-403(3)(b) minus the amount of any tax credit claimed under Section
59-7-618.1 or
59-10-1033.1; or
(g) the amount to be loaned for the purchase
of vehicle refueling equipment will exceed the requirements in Subsection
19-1-403(3)(d)(ii).
(2) The maximum amount that may be approved by the department for a loan is $200,000; the minimum amount that may be approved is $5,000.
(3) Awards for applicants applying for both a grant and loan will not exceed the actual cost of the approved project, minus the amount of any tax credit claimed under Section 59-7-618.1 or 59-10-1033.1.
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