Section R357-9-4 - Standards(1) Applicants shall use the application form provided by the office and follow the procedures and requirements set forth in UCA 63M-1-3104 for obtaining a tax credit certificate.(2) The office shall review accepted applications based upon the following criteria: (a) Compliance with the requirements set forth in UCA 63M-1-3103;(b) The overall economic impact on the state related to providing the tax credit, taking into account such factors as: (i) the number of new incremental jobs to Utah; or(ii) capital investment in the state; or(iii) new state revenues; or(iv) any combination of Subsections (i), (ii), or (iii).(3) The office shall keep a record of the review of applications based on the criteria in subsection (2).(4) 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-1-3104.(5) 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.Utah Admin. Code R357-9-4