2023 Utah Code › Title 79 - Natural Resources › Chapter 6 - Utah Energy Act › Part 6 - High Cost Infrastructure Development Tax Credit Act › Section 602 - Definitions.

Effective 1/1/2024
79-6-602.
Definitions.
As used in this part:
(1) "Applicant" means a person that conducts business in the state and that applies for a tax credit under this part.
(2) "Energy delivery project" means a project that is designed to:
(a) increase the capacity for the delivery of energy to a user of energy inside or outside the state; or
(b) increase the capability of an existing energy delivery system or related facility to deliver energy to a user of energy inside or outside the state.
(3) "Fuel standard compliance project" means a project designed to retrofit a fuel refinery in order to make the refinery capable of producing fuel that complies with the United States Environmental Protection Agency's Tier 3 gasoline sulfur standard described in 40 C.F.R. Sec. 79.54.
(4) "High cost infrastructure project" means a project, including an energy delivery project or a fuel standard compliance project:
(a)
(i) that expands or creates new industrial, mining, manufacturing, or agriculture activity in the state, not including a retail business;
(ii) that involves new investment of at least $50,000,000 in an existing industrial, mining, manufacturing, or agriculture entity, by the entity; or
(iii) for the construction of a plant or other facility for the storage or production of fuel used for transportation, electricity generation, or industrial use;
(b) that requires or is directly facilitated by infrastructure construction; and
(c) for which the cost of infrastructure construction to the entity creating the project is greater than:
(i) 10% of the total cost of the project; or
(ii) $10,000,000.
(5) "Infrastructure" means:
(a) an energy delivery project;
(b) a railroad as defined in Section 54-2-1;
(c) a fuel standard compliance project;
(d) a road improvement project;
(e) a water self-supply project;
(f) a water removal system project;
(g) a solution-mined subsurface salt cavern;
(h) a project that is designed to:
(i) increase the capacity for water delivery to a water user in the state; or
(ii) increase the capability of an existing water delivery system or related facility to deliver water to a water user in the state; or
(i) an underground mine infrastructure project.
(6)
(a) "Infrastructure cost-burdened entity" means an applicant that enters into an agreement with the office that qualifies the applicant to receive a tax credit as provided in this part.
(b) "Infrastructure cost-burdened entity" includes a pass-through entity taxpayer, as defined in Section 59-10-1402, of a person described in Subsection (6)(a).
(7) "Infrastructure-related revenue" means an amount of tax revenue, for an entity creating a high cost infrastructure project, in a taxable year, that is directly attributable to a high cost infrastructure project, under:
(a)Title 59, Chapter 5, Part 1, Oil and Gas Severance Tax;
(b)Title 59, Chapter 5, Part 2, Mining Severance Tax;
(c)Title 59, Chapter 7, Corporate Franchise and Income Taxes;
(d)Title 59, Chapter 10, Individual Income Tax Act; and
(e)Title 59, Chapter 12, Sales and Use Tax Act.
(8) "Office" means the Office of Energy Development created in Section 79-6-401.
(9) "Tax credit" means a tax credit under Section 59-7-619 or 59-10-1034.
(10) "Tax credit certificate" means a certificate issued by the office to an infrastructure cost-burdened entity that:
(a) lists the name of the infrastructure cost-burdened entity;
(b) lists the infrastructure cost-burdened entity's taxpayer identification number;
(c) lists, for a taxable year, the amount of the tax credit authorized for the infrastructure cost-burdened entity under this part; and
(d) includes other information as determined by the office.
(11)
(a) "Underground mine infrastructure project" means a project that:
(i) is designed to create permanent underground infrastructure to facilitate underground mining operations; and
(ii) services multiple levels or areas of an underground mine or multiple underground mines.
(b) "Underground mine infrastructure project" includes:
(i) an underground access or a haulage road, entry, ramp, or decline;
(ii) a vertical or incline mine shaft;
(iii) a ventilation shaft or an air course; or
(iv) a conveyor or a truck haulageway.
Amended by Chapter 473, 2023 General Session