63N-2-203. Powers of the office.
246 words·~1 min read·
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Effective 7/1/2021
63N-2-203. Powers of the office.
The office shall:
(1)monitor the implementation and operation of this part and conduct a continuing evaluation of the progress made in the enterprise zones;
(2)evaluate an application for designation as an enterprise zone from a county applicant or a municipal applicant and determine if the applicant qualifies for that designation;
(3)provide technical assistance to county applicants and municipal applicants in developing applications for designation as enterprise zones;
(4)assist county applicants and municipal applicants designated as enterprise zones in obtaining assistance from the federal government and agencies of the state;
(5)assist a qualified business entity in obtaining the benefits of an incentive or inducement program authorized by this part; and
(6)as part of the annual written report described in Section 63N-1a-306 , prepare an annual evaluation that provides:
(a)based on data from the State Tax Commission, the total amount of tax credits claimed under this part;
(b)the total amount awarded in tax credits for each development zone;
(c)the number of new full-time employee positions reported to obtain tax credits in each development zone;
(d)the amount of tax credits awarded for rehabilitating a building in each development zone;
(e)the amount of tax credits awarded for investing in a plant, equipment, or other depreciable property in each development zone; and
(f)recommendations regarding the effectiveness of the program and any suggestions for legislation.
Amended by Chapter 282 , 2021 General Session