63N-2-104.1. Eligibility for tax credit -- Economic impact study.
(1) The office shall certify a business entity's eligibility for a tax credit as provided in this section.
(2) A business entity is eligible to receive a tax credit for a new commercial project if:
(a) the new commercial project:
(i)(A) is located and provides direct investment within the geographic boundaries of a development zone; or
(B) creates a remote work opportunity;
(ii) includes the creation of high paying jobs in the state, significant capital investment in the state, or significant purchases from vendors, contractors, or service providers in the state, or a combination of these three economic factors; and
(iii) generates new state revenues; and
(b) the business entity has not claimed a High Cost Infrastructure Development Tax Credit under Section 79-6-603 for the same new commercial project, if the new commercial project is located within a county of the first or second class.
(3) The office shall conduct a study of the economic impacts associated with a new commercial project to determine whether a business entity meets the requirements of Subsection (2).
(4) In determining whether a new commercial project meets the requirements of Subsection (2)(a)(ii), the office may attribute an incremental job or a high paying job to a new commercial project regardless of whether the job is performed in person, within a development zone, or remotely from elsewhere in the state.