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.