63N-2-806. Criteria for tax credits.
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Effective 5/10/2016
63N-2-806. Criteria for tax credits.
(1)A tax credit applicant shall establish as part of the application required by Section 63N-2-805 that the tax credit applicant:
(a)meets all of the criteria to receive the tax credit for which the tax credit applicant applies, except for the requirement to obtain a tax credit certificate; and
(b)will provide a long-term economic benefit to the state.
(2)The office may not issue a tax credit certificate to a tax credit applicant if:
(a)the tax credit applicant fails to meet the requirements of Subsection (1)(a) ; and
(b)the life science establishment does not enter into an agreement described in Section 63N-2-808 with the office.
Amended by Chapter 354 , 2016 General Session