Utah Administrative Code
Topic - Governor
Title R357 - Economic Opportunity
Rule R357-6 - Technology and Life Science Economic Development and Related Tax Credits
Section R357-6-4 - Conditions
Current through Bulletin 2024-06, March 15, 2024
(1) Applicants shall use the application form provided by the office and follow the procedures and requirements set forth in UCA 63M-1-2905 for obtaining a tax credit certificate.
(2) Applicants shall submit the application form to the office to be eligible to receive a tax credit, quarterly throughout the fiscal year as set forth in UCA 63M-1-2908, on or before the following quarterly deadlines:
(3) The office shall review and rank for approval accepted applications based upon the following criteria:
(4) The office shall keep a record of the review and ranking of applications based on the criteria in subsection (2).
(5) The office, with advice from the board, may enter into an agreement with a business entity authorizing a tax credit if the business entity meets the standards under subsections (2) and (3) and according to the requirements and procedures set forth in UCA 63M-1-2909.
(6) A business entity is eligible for an economic development tax credit only if the office has entered into an agreement under subsection (4) with the business entity.
