Title 63N, Title 63N: Economic Opportunity Act

63N-1a-303. Powers and duties of executive director. (1) Unless otherwise expressly provided by statute, the executive director may organize the office in any appropriate manner, including the appointment of deputy directors of the office. (2) The executive director may consolida…

63N-1a-304. Executive director and the Public Service Commission. (1) The executive director or the executive director's designee shall: become generally informed of significant rate cases and policy proceedings before the Public Service Commission; and monitor and study the pote…

63N-1a-305. Incentive review process. The office shall develop an incentive review process under the direction of the speaker of the House of Representatives and the president of the Senate.

63N-1a-306. Annual report -- Content -- Format. (1) The office shall prepare and submit to the governor and the Legislature, by October 1 of each year, an annual written report of the operations, activities, programs, and services of the office, including the divisions, sections,…

63N-1a-307. Restrictions on direct award grants. (1) As used in this section, "direct award grant" means the same as that term is defined in Section. 63G-6b-101 (2) In addition to the requirements of, the office may not distribute grant funds from a direct award grant to a recipi…

63N-1a-308. Office to maintain webpage for employers regarding employer-provided child care tax credits. (1) For purposes of this section, "employer-provided child care tax credits" means the nonrefundable income tax credits available to employers under Sectionsand. 59-7-627 59-1…

63N-1a-401. Creation of Board of Economic Development. (1) There is created within the office the Board of Economic Development, consisting of nine members appointed by the executive director of the office, in consultation with the governor, to four-year terms of office with the …

63N-1a-402. Board of Economic Development duties and powers. (1) The GOED board shall advise and assist the office to: promote and encourage the economic, commercial, financial, industrial, agricultural, and civic welfare of the state; promote and encourage the development, attra…

63N-1a-501. Creation of Economic Development Council. (1) There is created the Economic Development Council. (2) The council consists of the following voting members: the governor, or the governor's designee, who shall be the chair of the council; the president of the Senate or t…

63N-1a-502. Economic Development Council duties. The council shall: (1) establish strategic economic development objectives for the state, including establishing broad objectives; (2) provide recommendations to the executive director regarding efforts to achieve strategic economi…

63N-1a-503. Reporting. (1) The chair and executive director shall, no later than May 31, 2026, provide a report to the Economic Development and Workforce Services Interim Committee that describes the council and office's progress in coordinating efforts around opportunity zone ap…

63N-2-101. Title. (1) This chapter is known as "Tax Credit Incentives for Economic Development." (2) This part is known as "Economic Development Tax Increment Financing."

63N-2-102. Purpose. This part is enacted to: (1) foster and develop targeted industries in the state, to stimulate community-focused economic growth, and to diversify and catalyze the state's economy; (2) create high paying employment opportunities in the state; (3) provide tax c…

63N-2-103. Definitions. As used in this part: (1) "Business entity" means a person that enters into a written agreement with the office to initiate a new commercial project in Utah that will qualify the person to receive a tax credit under Sectionor. 59-7-614.2 59-10-1107 With re…

63N-2-104. Creation of economic development zones -- Tax credits -- Assignment of tax credit. (1) The office may create an economic development zone in the state if the following requirements are satisfied: the area is located within a commercial or industrial zone; the local gov…

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: the new commerci…

63N-2-104.2. Written agreement -- Contents -- Grounds for amendment or termination. (1) If the office determines that a business entity is eligible for a tax credit under Section, the office may enter into a written agreement with the business entity that: 63N-2-104.1 establishes…

63N-2-104.3. Limitations on tax credit amount. (1) Except as provided in Subsection, for a new commercial project that is located within the boundary of a county of the first or second class, the office may not authorize a tax credit that exceeds: (2)(a) 50% of the new state reve…

63N-2-105. Requirements for claiming tax credit -- Application for tax credit certificate -- Procedure. (1) A business entity may claim a tax credit under this part if the office: determines that the business entity is eligible for a tax credit under Section; 63N-2-104.1 enters i…

63N-2-106. Reports -- Posting monthly and annual reports -- Audit and study of tax credits. (1) The office shall include the following information in the annual written report described in Section: 63N-1a-306 the office's success in attracting new commercial projects to developme…

63N-2-107. Reports of new state revenue, partial rebates, and tax credits. (1) Before October 1 of each year, the office shall submit a report to the Governor's Office of Planning and Budget, the Office of the Legislative Fiscal Analyst, and the Division of Finance identifying: t…

63N-2-109. Payment of partial rebates. (1) As used in this section: "Account" means the Economic Incentive Restricted Account created in Subsection. (2) "Partial rebate" means an agreement between the office and a business entity under which the state agrees to pay back to the bu…

63N-2-110. Rulemaking authority. The office may make rules in accordance with, as necessary to administer this part.

63N-2-201. Title. This part is known as the "Enterprise Zone Act."

63N-2-202. Definitions. As used in this part: (1) "Business entity" means an entity, sole proprietorship, or individual: including a claimant, estate, or trust; and under which or by whom business is conducted or transacted. (2) "Claimant" means a resident or nonresident person t…

63N-2-203. Powers of the office. The office shall: (1) monitor the implementation and operation of this part and conduct a continuing evaluation of the progress made in the enterprise zones; (2) evaluate an application for designation as an enterprise zone from a county applicant…

63N-2-204. Criteria for designation of enterprise zones -- Application. (1) A county applicant seeking designation as an enterprise zone shall file an application with the office that, in addition to complying with the other requirements of this part: verifies that the county has…

63N-2-205. Qualifying local contributions. (1) An area may be designated as an enterprise zone only if the county applicant or municipal applicant agrees to make a qualifying local contribution. (2) The qualifying local contribution may vary depending on available resources, and …

63N-2-206. Eligibility review. (1) The office shall: review and evaluate the applications submitted under Section; and 63N-2-204 determine whether each county applicant or municipal applicant is eligible for designation as an enterprise zone. (2) The office shall designate enterp…

63N-2-207. Quarterly consideration. The office shall consider designating enterprise zones quarterly.

63N-2-208. Duration of designation. (1) Each enterprise zone has a duration of five years. (2) On or after January 1, 2021, neither a municipality nor a county may reapply for an enterprise zone designation for an enterprise zone that has reached the end of the enterprise zone's …

63N-2-209. Contingent designations. (1) The office may accept applications for, and may at any time grant, a contingent designation of any county as an enterprise zone for purposes of seeking a designation of the county as a federally designated zone. (2) This designation does no…

63N-2-210. Revocation of designations. (1) The office may revoke the designation of an enterprise zone if no businesses utilize the tax incentives during a calendar year. (2) Prior to that action, the office shall conduct a public hearing to determine reasons for inactivity and e…

63N-2-211. Disqualifying transfers. Except in a county of the first or second class, tax incentives provided by this part are not available to a business entity that closes or permanently curtails operations in another part of the state in connection with a transfer of any part o…

63N-2-212. Business entities qualifying for tax incentives. (1) Except as otherwise provided in Subsection, the tax incentives described in this part are available only to a business entity for which at least 51% of the employees employed at facilities of the business entity loca…

63N-2-213. State tax credits. (1) The office shall certify a business entity's eligibility for a tax credit described in this section. (2) A business entity seeking to receive a tax credit as provided in this section shall provide the office with: an application for a tax credit …

63N-2-214. Annual report. Each county applicant or municipal applicant designated as an enterprise zone shall annually report to the office regarding the economic activity that has occurred in the zone following the designation.

63N-2-215. Indian tribes -- Application. (1) For purposes of this section: "Indian reservation" has the same meaning as defined in Section. 9-9-210 "Indian tribe" has the same meaning as defined in Section. 9-9-402 "Tribal applicant" means the governing authority of a tribe that …

63N-2-501. Title. This part is known as "New Convention Facility Development Incentives."

63N-2-502. Definitions. As used in this part: (1) "Agreement" means an agreement described in Section. 63N-2-503 (2) "Base taxable value" means the value of hotel property before the construction on a qualified hotel begins, as that value is established by the county in which the…

63N-2-503. Agreement for development of new convention hotel -- Convention incentive authorized -- Agreement requirements. (1) The office, with the board's advice, may enter into an agreement with a qualified hotel owner or a host local government: for the development of a qualif…

63N-2-503.5. Convention Incentive Fund. (1) There is created an expendable special revenue fund known as the Convention Incentive Fund. (2) The incentive fund shall be funded by new tax revenue, as provided in Subsection. (3) No legislative appropriation is required to fund the i…

63N-2-504. Independent review committee. (1) In accordance with rules adopted by the office under Section, the GOED board shall establish a separate, independent review committee to provide recommendations to the office regarding the terms and conditions of an agreement and to co…

63N-2-505. Submission of written claim for convention incentive -- Disclosure of tax returns and other information -- Determination of claim. (1) The office may not pay any money from the incentive fund to a qualified hotel owner or host local government unless: the qualified hot…

63N-2-507. Assigning convention incentive. (1) A host local government that enters into an agreement with the office may, by resolution, assign a convention incentive to a community reinvestment agency, in accordance with rules adopted by the office. (2) A host local government t…

63N-2-508. Payment of incremental property tax revenue. (1) As used in this section: "Displaced tax increment" means the amount of tax increment that a county would have paid to the host agency, except for Subsection, from tax increment revenue generated from the project area in …