reglab/housing_qa huggingface dataset:
UT Code § 63N-2-512 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 2 - Tax Credit Incentives for Economic Development|Part 5 - New Convention Facility Development Incentives|Section 512 - Hotel Impact Mitigation Fund.

 Affected by 63I-1-263 on 7/1/2028  Effective 7/1/2021  63N-2-512. Hotel Impact Mitigation Fund.    (1) As used in this section:   (a) "Affected hotel" means a hotel built in the state before July 1, 2014.     (b) "Direct losses" means affected hotels' losses of hotel guest business attributable to the qualified hotel room supply being added to the market in the state.     (c) "Mitigation fund" means the Hotel Impact Mitigation Fund, created in Subsection (2).       (2) There is created an expendable special revenue fund known as the Hotel Impact Mitigation Fund.     (3) The mitigation fund shall:   (a) be administered by the GO Utah board;     (b) earn interest; and     (c) be funded by:   (i) payments required to be deposited into the mitigation fund by the Division of Finance under Subsection 59-12-103(11);     (ii) money required to be deposited into the mitigation fund under Subsection 17-31-9(2) by the county in which a qualified hotel is located; and     (iii) any money deposited into the mitigation fund under Subsection (6).         (4) Interest earned by the mitigation fund shall be deposited into the mitigation fund.     (5)   (a) In accordance with office rules, the GO Utah board shall annually pay up to $2,100,000 of money in the mitigation fund:   (i) to affected hotels;     (ii) for four consecutive years, beginning 12 months after the date of initial occupancy of the qualified hotel occurs; and     (iii) to mitigate direct losses.       (b)   (i) If the amount the GO Utah board pays under Subsection (5)(a) in any year is less than $2,100,000, the GO Utah board shall pay to the Stay Another Day and Bounce Back Fund, created in Section 63N-2-511, the difference between $2,100,000 and the amount paid under Subsection (5)(a).     (ii) The GO Utah board shall make any required payment under Subsection (5)(b)(i) within 90 days after the end of the year for which a determination is made of how much the GO Utah board is required to pay to affected hotels under Subsection (5)(a).         (6) A host local government or qualified hotel owner may make payments to the Division of Finance for deposit into the mitigation fund.     (7) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the office shall, in consultation with the Utah Hotel and Lodging Association and the county in which the qualified hotel is located, make rules establishing procedures and criteria governing payments under Subsection (5)(a) to affected hotels.    Amended by Chapter 282, 2021 General Session
UT Code § 63N-2-513 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 2 - Tax Credit Incentives for Economic Development|Part 5 - New Convention Facility Development Incentives|Section 513 - Authorized expenditures of convention incentive.

 Effective 7/1/2015  63N-2-513. Authorized expenditures of convention incentive.    (1) A qualified hotel owner or host local government may spend money received from the state portion of a convention incentive only for a purpose described in Subsection 63N-2-508(2)(a).     (2) A qualified hotel owner or host local government may spend money received from the local portion of a convention incentive only for:   (a) a purpose described in Subsection (1);     (b) public infrastructure; and     (c) other purposes as specified in the agreement.      Renumbered and Amended by Chapter 283, 2015 General SessionAmended by Chapter 417, 2015 General Session
UT Code § 63N-2-801 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 2 - Tax Credit Incentives for Economic Development|Part 8 - Technology and Life Science Economic Development Act|Section 801 - Title.

 Effective 5/12/2015  63N-2-801. Title.  This part is known as the "Technology and Life Science Economic Development Act." Renumbered and Amended by Chapter 283, 2015 General Session
UT Code § 63N-2-802 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 2 - Tax Credit Incentives for Economic Development|Part 8 - Technology and Life Science Economic Development Act|Section 802 - Definitions.

 Effective 5/10/2016  63N-2-802. Definitions.  As used in this part:  (1) "Claimant" means the same as that term is defined in Section 59-10-1002.     (2) "Eligible claimant, estate, or trust" means a claimant, estate, or trust that:   (a) enters into an agreement with the office in accordance with this part to receive a tax credit certificate for a tax credit under Section 59-10-1025; and     (b) receives a tax credit certificate from the office in accordance with this part.       (3) "Life science establishment" means the same as that term is defined in Section 59-10-1025.     (4) "Tax credit" means a tax credit under Section 59-10-1025.     (5) "Tax credit applicant" means a person that applies to the office to receive a tax credit certificate under this part.     (6) "Tax credit certificate" means a certificate issued by the office that:   (a) lists the name of the tax credit certificate recipient;     (b) lists the tax credit certificate recipient's taxpayer identification number;     (c) lists the amount of the tax credit certificate recipient's tax credits authorized under this part for a taxable year; and     (d) includes other information as determined by the office.       (7) "Tax credit certificate recipient" means an eligible claimant, estate, or trust that receives a tax credit certificate in accordance with this part for a tax credit under Section 59-10-1025.    Amended by Chapter 354, 2016 General Session
UT Code § 63N-2-803 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 2 - Tax Credit Incentives for Economic Development|Part 8 - Technology and Life Science Economic Development Act|Section 803 - Tax credits issued by office.

 Effective 5/10/2016  63N-2-803. Tax credits issued by office.    (1) The office may issue tax credit certificates under this part only to the extent that the Legislature, by statute, expressly authorizes the office to issue the tax credit certificates under this part for a fiscal year.     (2)   (a) For fiscal year 2011-12 only, the office may issue a total of $1,300,000 in tax credit certificates in accordance with this part.     (b) For fiscal year 2016-17 only, the office may issue a total of $150,000 in tax credit certificates in accordance with this part.     (c) For fiscal year 2017-18 only, the office may issue a total of $150,000 in tax credit certificates in accordance with this part.       (3) If the total amount of tax credit certificates the office issues in a fiscal year is less than the amount of tax credit certificates the office may issue under this part in a fiscal year, the office may issue the remaining amount of tax credit certificates in a fiscal year after the fiscal year for which there is a remaining amount of tax credit certificates.    Amended by Chapter 354, 2016 General Session
UT Code § 63N-2-804 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 2 - Tax Credit Incentives for Economic Development|Part 8 - Technology and Life Science Economic Development Act|Section 804 - Person may not claim or pass through a tax credit without tax credit certificate.

 Effective 5/12/2015  63N-2-804. Person may not claim or pass through a tax credit without tax credit certificate.  A person may not claim or pass through a tax credit unless the person has received a tax credit certificate from the office for the taxable year for which the person claims or passes through the tax credit. Renumbered and Amended by Chapter 283, 2015 General Session
UT Code § 63N-2-805 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 2 - Tax Credit Incentives for Economic Development|Part 8 - Technology and Life Science Economic Development Act|Section 805 - Application process.

 Effective 5/12/2015  63N-2-805. Application process.    (1) A tax credit applicant may apply to the office to receive a tax credit certificate by filing an application with the office:   (a) on or before the quarterly deadline established by the office by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act; and     (b) on a form and in the manner prescribed by the office.       (2) The application shall include:   (a) tax return information as required by the office that is necessary for the office to determine eligibility for and the amount of a tax credit; and     (b) other documentation as required by the office.       (3) As part of the application required by this section, a tax credit applicant shall sign a separate document that expressly directs and authorizes the State Tax Commission to disclose to the office the tax credit certificate recipient's tax returns and other information concerning the tax credit certificate that:   (a) would otherwise be subject to confidentiality under Section 59-1-403 or Section 6103, Internal Revenue Code; and     (b) are necessary for the office to determine eligibility for and the amount of a tax credit under this part.       (4) Upon receipt of the document described in Subsection (3), the State Tax Commission shall provide the office with the tax returns and other information requested by the office that the tax credit applicant directed or authorized the State Tax Commission to provide to the office, including information necessary to determine eligibility for the amount of a tax credit.     (5) If the office determines that the information a tax credit applicant provides is inadequate to provide a reasonable justification for authorizing a tax credit, the office shall:   (a) deny the tax credit; or     (b) inform the tax credit applicant that the information is inadequate and ask the tax credit applicant to submit new or additional documentation.      Renumbered and Amended by Chapter 283, 2015 General Session
UT Code § 63N-2-806 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 2 - Tax Credit Incentives for Economic Development|Part 8 - Technology and Life Science Economic Development Act|Section 806 - Criteria for tax credits.

 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
UT Code § 63N-2-807 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 2 - Tax Credit Incentives for Economic Development|Part 8 - Technology and Life Science Economic Development Act|Section 807 - Rulemaking authority.

 Effective 5/12/2015  63N-2-807. Rulemaking authority.  The office shall, by rule, made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, establish:  (1) criteria to prioritize the issuance of tax credits amongst tax credit applicants in a manner consistent with this part; and     (2) procedures for documenting the office's application of the criteria described in Subsection (1).    Renumbered and Amended by Chapter 283, 2015 General Session
UT Code § 63N-2-808 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 2 - Tax Credit Incentives for Economic Development|Part 8 - Technology and Life Science Economic Development Act|Section 808 - Agreements between office and tax credit applicant and life science establishment -- Tax credit certificate.

 Effective 7/1/2021  63N-2-808. Agreements between office and tax credit applicant and life science establishment -- Tax credit certificate.    (1)   (a) The office, with advice from the GO Utah board, may enter into an agreement to grant a tax credit certificate to a tax credit applicant selected in accordance with this part, if the tax credit applicant meets the conditions established in the agreement and under this part.     (b) The agreement described in Subsection (1)(a) shall:   (i) detail the requirements that the tax credit applicant shall meet prior to receiving a tax credit certificate;     (ii) require the tax credit certificate recipient to retain records supporting a claim for a tax credit for at least four years after the tax credit certificate recipient claims a tax credit under this part; and     (iii) require the tax credit certificate recipient to submit to audits for verification of the tax credit claimed, including audits by the office and by the State Tax Commission.         (2)   (a) The office, with advice from the GO Utah board, shall enter into an agreement with the life science establishment in which the tax credit applicant invested for purposes of claiming a tax credit.     (b) The agreement described in Subsection (2)(a):   (i) shall provide the office with a document that expressly and directly authorizes the State Tax Commission to disclose to the office the life science establishment's tax returns and other information that would otherwise be subject to confidentiality under Section 59-1-403 or Section 6103, Internal Revenue Code;     (ii) shall authorize the Department of Workforce Services to disclose to the office the employment data that the life science establishment submits to the Department of Workforce Services;     (iii) shall require the life science establishment to provide the office with the life science establishment's current capitalization tables; and     (iv) may require the life science establishment to provide the office with other data that:   (A) ensure compliance with the requirements of this chapter; and     (B) demonstrate the economic impact of the tax credit applicant's investment in the life science establishment.          Amended by Chapter 282, 2021 General Session
UT Code § 63N-2-809 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 2 - Tax Credit Incentives for Economic Development|Part 8 - Technology and Life Science Economic Development Act|Section 809 - Issuance of tax credit certificates.

 Effective 5/12/2015  63N-2-809. Issuance of tax credit certificates.    (1) For a tax credit applicant that seeks to claim a tax credit, the office may issue a tax credit certificate to the tax credit applicant:   (a) for the first taxable year for which the tax credit applicant qualifies for the tax credit and enters into an agreement with the office;     (b) for two taxable years immediately following the taxable year described in Subsection (1)(a); and     (c) for the seven taxable years immediately following the last of the two taxable years described in Subsection (1)(b) if:   (i) the agreement with the office described in Section 63N-2-808 includes a provision that the tax credit applicant will make new capital expenditures of at least $1,000,000,000 in the state; and     (ii) the tax credit applicant makes new capital expenditures of at least $1,000,000,000 in the state in accordance with the agreement with the office described in Section 63N-2-808.         (2) The office shall provide a duplicate copy of each tax credit certificate to the State Tax Commission.    Renumbered and Amended by Chapter 283, 2015 General Session
UT Code § 63N-2-810 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 2 - Tax Credit Incentives for Economic Development|Part 8 - Technology and Life Science Economic Development Act|Section 810 - Reports on tax credit certificates.

 Effective 7/1/2021  63N-2-810. Reports on tax credit certificates.  The office shall include the following information in the annual written report described in Section 63N-4-106:  (1) the total amount listed on tax credit certificates the office issues under this part;     (2) the criteria that the office uses in prioritizing the issuance of tax credits amongst tax credit applicants under this part; and     (3) the economic impact on the state related to providing tax credits under this part.    Amended by Chapter 282, 2021 General Session
UT Code § 63N-2-811 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 2 - Tax Credit Incentives for Economic Development|Part 8 - Technology and Life Science Economic Development Act|Section 811 - Reports of tax credits.

 Effective 7/1/2021  63N-2-811. Reports of tax credits.    (1) Before December 1 of each year, the office shall submit a report to the Governor's Office of Planning and Budget, the Office of the Legislative Fiscal Analyst, and the Division of Finance identifying:   (a) the total amount listed on tax credit certificates the office issues under this part; and     (b) the criteria that the office uses in prioritizing the issuance of tax credits amongst tax credit applicants.       (2) By the first business day of each month, the office shall submit a report to the Governor's Office of Planning and Budget, the Office of the Legislative Fiscal Analyst, and the Division of Finance identifying:   (a) each new agreement entered into by the office since the last report;     (b) the total amount listed on tax credit certificates the office issues under this part; and     (c) the criteria that the office uses in prioritizing the issuance of tax credits amongst tax credit applicants.      Amended by Chapter 382, 2021 General Session
UT Code § 63N-3-101 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 3 - Economic Development Programs|Part 1 - Industrial Assistance Account|Section 101 - Title -- Purpose.

 Effective 5/12/2015  63N-3-101. Title -- Purpose.    (1) This chapter is known as "Economic Development Programs."     (2) This part is known as the "Industrial Assistance Account."     (3) The Legislature finds and declares that the fostering and development of industry in Utah is a state public purpose necessary to assure the welfare of its citizens, the growth of its economy, and adequate employment for its citizens.    Renumbered and Amended by Chapter 283, 2015 General Session
UT Code § 63N-3-102 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 3 - Economic Development Programs|Part 1 - Industrial Assistance Account|Section 102 - Definitions.

 Effective 7/1/2021  63N-3-102. Definitions.  As used in this part:  (1) "Administrator" means the executive director or the executive director's designee.     (2) "Economic opportunities" means unique business situations or community circumstances, including the development of recreation infrastructure and the promotion of the high tech sector in the state, which lend themselves to the furtherance of the economic interests of the state by providing a catalyst or stimulus to the growth or retention, or both, of commerce and industry in the state, including retention of companies whose relocation outside the state would have a significant detrimental economic impact on the state as a whole, regions of the state, or specific components of the state as determined by the GO Utah board.     (3) "Restricted Account" means the restricted account known as the Industrial Assistance Account created in Section 63N-3-103.     (4) "Targeted industry" means an industry or group of industries targeted by the GO Utah board under Section 63N-3-111, for economic development in the state.     (5) "Talent development grant" means a grant awarded under Section 63N-3-112.    Amended by Chapter 282, 2021 General Session
UT Code § 63N-3-103 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 3 - Economic Development Programs|Part 1 - Industrial Assistance Account|Section 103 - Industrial Assistance Account created -- Uses -- Administrator duties -- Costs.

 Effective 7/1/2021  63N-3-103. Industrial Assistance Account created -- Uses -- Administrator duties -- Costs.    (1) There is created a restricted account within the General Fund known as the "Industrial Assistance Account".     (2) The administrator shall administer the restricted account.     (3) The administrator may hire appropriate support staff to perform the duties required under this section.     (4) The cost of administering the restricted account shall be paid from money in the restricted account.     (5) Interest accrued from investment of money in the restricted account shall remain in the restricted account.     (6) The office shall review the activities and progress of grant recipients under this chapter on a regular basis and, as part of the office's annual written report described in Section 63N-1a-306, report on the economic impact of activities funded by each grant.    Amended by Chapter 282, 2021 General Session
UT Code § 63N-3-105 (2021)
2021 Utah Code|Title 63N - Economic Opportunity Act|Chapter 3 - Economic Development Programs|Part 1 - Industrial Assistance Account|Section 105 - Qualification for assistance.

 Effective 7/1/2021  63N-3-105. Qualification for assistance.    (1)   (a) Except as provided in Section 63N-3-109, the administrator shall determine which industries, companies, and individuals qualify to receive money from the Industrial Assistance Account.     (b) Except as provided by Subsection (2), to qualify for financial assistance from the restricted account, an applicant shall:   (i) demonstrate to the satisfaction of the administrator that the applicant will expend funds in the state with employees, vendors, subcontractors, or other businesses in an amount proportional with money provided from the restricted account at a minimum ratio of one to one per year or other more stringent requirements as established on a per project basis by the administrator;     (ii) demonstrate to the satisfaction of the administrator the applicant's ability to sustain economic activity in the state sufficient to repay, by means of cash or appropriate credits, the loan provided by the restricted account; and     (iii) satisfy other criteria the administrator considers appropriate.         (2)   (a) The administrator may exempt an applicant from the requirements of Subsection (1)(a) or (b) if:   (i) the applicant is part of a targeted industry;     (ii) the applicant is a quasi-public corporation organized under Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act, or Title 63E, Chapter 2, Independent Corporations Act, and its operations, as demonstrated to the satisfaction of the administrator, will provide significant economic stimulus to the growth of commerce and industry in the state; or     (iii) the applicant is an entity offering an economic opportunity under Section 63N-3-109.       (b) The administrator may not exempt the applicant from the requirement under Subsection 63N-3-106(2)(b) that the loan be structured so that the repayment or return to the state equals at least the amount of the assistance together with an annual interest charge.       (3) The administrator shall:   (a) for applicants not described in Subsection (2)(a):   (i) make findings as to whether or not each applicant has satisfied each of the conditions set forth in Subsection (1); and     (ii) monitor the continued compliance by each applicant with each of the conditions set forth in Subsection (1) for five years;       (b) monitor the compliance by each applicant with the provisions of any contract or agreement entered into between the applicant and the state as provided in Section 63N-3-107; and     (c) make funding decisions based upon appropriate findings and compliance.      Amended by Chapter 282, 2021 General Session