Alternative energy entity: includes a pass-through entity taxpayer, as defined in Section 59-10-1402, of a person described in Subsection (2)(a). See Utah Code 79-6-502
Alternative energy project: means a project produced by an alternative energy entity if that project involves:
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
Tax credit certificate: means a certificate issued by the office that:
(a)
lists the name of the tax credit certificate recipient;
(b)
lists the tax credit certificate recipient's taxpayer identification number;
(c)
lists the amount of the tax credit certificate recipient's tax credits authorized under this part for a taxable year; and
(d)
includes other information as determined by the office. See Utah Code 79-6-502
Tax credit certificate recipient: means an alternative energy entity that receives a tax credit certificate for a tax credit in accordance with this part. See Utah Code 79-6-502
(2)
(a)
“Alternative energy entity” means a person that:
(i)
conducts business within the state; and
(ii)
enters into an agreement with the office that qualifies the person to receive a tax credit.
(b)
“Alternative energy entity” includes a pass-through entity taxpayer, as defined in Section 59-10-1402, of a person described in Subsection (2)(a).
(3)
“Alternative energy project” means a project produced by an alternative energy entity if that project involves:
(a)
a new or expanding operation in the state; and
(b)
(i)
utility-scale alternative energy generation; or
(ii)
the extraction of alternative fuels.
(4)
“New incremental job within the state” means, with respect to an alternative energy entity, an employment position that:
(a)
did not exist within the state before:
(i)
the alternative energy entity entered into an agreement with the office in accordance with Section 79-6-503; and
(ii)
the alternative energy project began;
(b)
is not shifted from one location in the state to another location in the state; and
“New state revenues” means an increased amount of tax revenues generated as a result of an alternative energy project by an alternative energy entity or a new incremental job within the state under the following:
“Tax credit applicant” means an alternative energy entity that applies to the office to receive a tax credit certificate under this part.
(9)
“Tax credit certificate” means a certificate issued by the office that:
(a)
lists the name of the tax credit certificate recipient;
(b)
lists the tax credit certificate recipient’s taxpayer identification number;
(c)
lists the amount of the tax credit certificate recipient’s tax credits authorized under this part for a taxable year; and
(d)
includes other information as determined by the office.
(10)
“Tax credit certificate recipient” means an alternative energy entity that receives a tax credit certificate for a tax credit in accordance with this part.
Renumbered and Amended by Chapter 280, 2021 General Session