59-2a-205. Amount of renter's credit -- Cost-of-living adjustment -- Prohibition on credit for rental assistance payment -- Calculation of credit when rent includes utilities -- Limitation -- General Fund as source of credit -- Maximum credit.
(1) Subject to Subsectionsand, for a calendar year beginning on or after January 1, 2024, a claimant may claim a renter's credit for the previous calendar year that does not exceed the following amounts: (2) (3) For a calendar year beginning on or after January 1, 2025, the commission shall increase or decrease the household income eligibility amounts under Subsectionby a percentage equal to the percentage difference between the consumer price index for the preceding calendar year and the consumer price index for calendar year 2023. (1)(a)
(2) A claimant may claim a renter's credit under this part only for gross rent that does not constitute a rental assistance payment. For purposes of determining whether a claimant receives a rental assistance payment and in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission may make rules defining the terms: "governmental entity"; "charitable organization"; or "religious organization."
(3) For purposes of calculating gross rent when a claimant's rent includes electricity or natural gas and the utility amount is not itemized in the statement provided in accordance with Section, the commission shall deduct from rent: 59-2a-204 7% of rent if the rent includes electricity or natural gas but not both; or 13% of rent if the rent includes both electricity and natural gas.
(4) An individual may not receive the renter's credit under this section if the individual is: claimed as a personal exemption on another individual's federal income tax return during any portion of a calendar year for which the individual seeks to claim the renter's credit under this section; or a dependent with respect to whom another individual claims a tax credit under Section 24(h)(4), Internal Revenue Code, during any portion of a calendar year for which the individual seeks to claim the renter's credit under this section.
(5) A payment for a renter's credit allowed by this section, and authorized by Section, shall be paid from the General Fund. 59-2a-202
(6) A credit under this section may not exceed the maximum amount allowed as a homeowner's credit for each income bracket under Section. 59-2a-305