Utah Code 35A-8-2102. Definitions

35A-8-2102. Definitions.
As used in this part:

(1)

“Allocated volume cap” means a volume cap for which:

Bond: means any obligation for which an allocation of volume cap is required by the code. See Utah Code 35A-8-2102
City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
Code: means the Internal Revenue Code of 1986, as amended, and any related Internal Revenue Service regulations. See Utah Code 35A-8-2102
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Department: means the Department of Workforce Services created in Section 35A-1-103. See Utah Code 35A-1-102
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
State: means the state of Utah and any of its agencies, institutions, and divisions authorized to issue bonds or certificates under state law. See Utah Code 35A-8-2102
Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
Volume cap: means the private activity bond volume cap for the state as computed under Section 146 of the code. See Utah Code 35A-8-2102
Year: means each calendar year. See Utah Code 35A-8-2102

(a)	a certificate of allocation is in effect; or

(b)	bonds have been issued.

(2)	“Allotment accounts” means the various accounts created in Section 35A-8-2106.

(3)	“Board of review” means the Private Activity Bond Review Board created in Section 35A-8-2103.

(4)	“Bond” means any obligation for which an allocation of volume cap is required by the code.

(5)	“Code” means the Internal Revenue Code of 1986, as amended, and any related Internal Revenue Service regulations.

(6)	“Form 8038” means the Department of the Treasury tax form 8038 (OMB No. 1545-0720) or any other federal tax form or other method of reporting required by the Department of the Treasury under Section 149(e) of the code.

(7)

“Issuing authority” means:

(a)	any county, city, or town in the state;

(b)	any not-for-profit corporation or joint agency, or other entity acting on behalf of one or more counties, cities, towns, or any combination of these;

(c)	the state; or

(d)	any other entity authorized to issue bonds under state law.

(8)	“State” means the state of Utah and any of its agencies, institutions, and divisions authorized to issue bonds or certificates under state law.

(9)	“Volume cap” means the private activity bond volume cap for the state as computed under Section 146 of the code.

(10)	“Year” means each calendar year.

Renumbered and Amended by Chapter 182, 2018 General Session