2006 Utah Code - 63-38f-1304 — Development incentives.

     63-38f-1304.   Development incentives.
     (1) The office, with advice from the board, may enter into agreements providing for partial rebates of new state revenues generated by new commercial projects to companies or individuals that create new economic growth within the development zone.
     (2) In no event may the partial rebates be in excess of 50% of the new state revenues in any given year.
     (3) (a) The partial rebates may not exceed 30% of the new state revenues generated over the life of a new commercial project.
     (b) For purposes of this part, the life of a new commercial project is limited to 20 years.
     (4) Partial rebates are subject to any other limitations adopted by board rule made in accordance with Title 63, Chapter 46a, Utah Administrative Rulemaking Act.

Amended by Chapter 52, 2006 General Session