Section R357-5-107 - Funding - Post-Performance Refundable Tax Credit(1) Post-performance refundable tax credits are non -transferable and can only be issued to the state-approved motion picture that submits the motion picture incentive application and is approved by the Office with advice from the Board.(2) Post-performance refundable tax credits in amounts over $2,000,000 may be paid in deferred payments over multiple years as authorized by the Office within the approved Board motion for the tax credit.(a) Deferred payments for tax credits over $2,000,000 are subject to available tax credit allocation as authorized by the legislature.(b) Each annual installment of the deferred payment amount shall be outlined in the tax credit agreement.(c) A deferred payment plan cannot exceed three years.Utah Admin. Code R357-5-107
Adopted by Utah State Bulletin Number 2018-15, effective 7/9/2018Amended by Utah State Bulletin Number 2020-02, effective 1/1/2020Amended by Utah State Bulletin Number 2021-21, effective 10/12/2021Amended by Utah State Bulletin Number 2022-15, effective 7/15/2022