59-10-1038. Nonrefundable rural job creation tax credit.
(1) As used in this section, "office" means the Governor's Office of Economic Development created in Section. 63N-1a-301
(2) Subject to the other provisions of this section, a taxpayer may claim a nonrefundable tax credit for rural job creation as provided in this section.
(3) The tax credit under this section is the amount listed as the tax credit amount on a tax credit certificate that the office issues under, to the taxpayer for the taxable year. Title 63N, Chapter 4, Part 3, Utah Rural Jobs Act
(4) If the amount of a tax credit under this section exceeds the taxpayer's tax liability under this chapter for the taxable year in which the taxpayer claims the tax credit, the taxpayer may carry forward the tax credit for: the next seven taxable years, if the credit-eligible contribution as defined in Sectionis made before November 1, 2022; or 63N-4-302 the next four taxable years, if the credit-eligible contribution as defined in Sectionis made on or after November 1, 2022. 63N-4-302