2011 Utah Code
Title 63M Governor's Programs
Chapter 1 Governor's Office of Economic Development
Section 2805 Qualifications for tax credit -- Procedure.

63M-1-2805. Qualifications for tax credit -- Procedure.
(1) The office shall certify a business entity's eligibility for a tax credit as provided in this section.
(2) A business entity seeking to receive a tax credit shall provide the office with:
(a) an application for the tax credit certificate;
(b) documentation of the new state revenues generated from the business entity's alternative energy project that were paid during the preceding calendar year; and
(c) a document that expressly directs and authorizes the State Tax Commission to disclose to the office the business entity's returns and other information concerning the business entity that would otherwise be subject to confidentiality under Section 59-1-403 or Section 6103 of the Internal Revenue Code.
(3) (a) The office shall submit the document referred to in Subsection (2)(c) to the State Tax Commission.
(b) Upon receipt of the document, the State Tax Commission shall provide the office with the information requested by the office that the business entity directed or authorized the State Tax Commission to provide to the office in the document referred to in Subsection (2)(c).
(4) If after review of the information provided by the business entity and the State Tax Commission the office determines that the documentation provided by the business entity is not substantially accurate, the office shall either:
(a) deny the tax credit; or
(b) inform the business entity that the documentation was inadequate and ask the business entity to submit new documentation.
(5) If after review of the information provided by the entity and the State Tax Commission the office determines that the documentation provided by the business entity is substantially accurate, the office shall, based upon the documentation:
(a) determine the amount of the tax credit to be granted to the business entity;
(b) issue a tax credit certificate to the business entity; and
(c) provide a duplicate copy of the tax credit certificate to the State Tax Commission.
(6) A business entity may not claim a tax credit under this part unless the business entity has a tax credit certificate issued by the office.
(7) A business entity that claims the credit under this section shall retain the tax credit certificate in accordance with Section 59-7-614.2 or 59-10-1107.