Utah Code § 63N-2-203

Current through the 2024 Third Special Session

Section 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.

Utah Code § 63N-2-203

Amended by Chapter 282, 2021 General Session ,§ 95, eff. 7/1/2021.

Amended by Chapter 360, 2020 General Session ,§ 26, eff. 7/1/2020.

Amended by Chapter 252, 2017 General Session ,§ 4, eff. 5/9/2017, op. for a taxable year beginning on or after 1/1/2017.

Amended by Chapter 11, 2016 General Session ,§ 4, eff. 3/1/2016, op. 1/1/2016.

Renumbered from § 63M-1-403 and amended by Chapter 283, 2015 General Session ,§ 76, eff. 5/12/2015.

Amended by Chapter 371, 2014 General Session ,§ 27, eff. 5/13/2014.

Amended by Chapter 246, 2012 General Session ,§ 14, eff. 5/8/2012.

Amended by Chapter 84, 2011 General Session

Affected by 63I-1-263 on 7/1/2028