2006 Utah Code - 63-38f-1706 — Office\'s authority -- Report to Legislature.

     63-38f-1706.   Office's authority -- Report to Legislature.
     (1) The office, with advice from the board, and within the limitations of this part, may determine:
     (a) the structure and amount of any partial rebates offered under this part;
     (b) the economic impacts and job creation necessary to qualify for the incentive; and
     (c) the other terms and conditions of an agreement entered into under this part.
     (2) In reviewing claims for partial rebates of new state revenues, the office may accept the same type of information and evidence allowed under Subsections 63-38f-1307(2)(a) and (b).
     (3) (a) The office shall make a report to the Legislature's Workforce Services and Community and Economic Development Interim Committee on:
     (i) the success of attracting new commercial projects to development zones under this part and the corresponding increase in new incremental jobs;
     (ii) the period of time over which partial rebates of new state revenues shall be granted under this part; and
     (iii) the economic impact on the state related to generating new state revenues and rebating a portion of those revenues under this part.
     (b) The office shall make the report prior to the 2006 General Session of the Legislature to enable the committee to determine whether this part should be modified during the 2006 General Session.

Enacted by Chapter 272, 2005 General Session