63N-3-111. Annual policy considerations.
| (1) |
Terms Used In Utah Code 63N-3-111- GO Utah board: means the Board of Economic Opportunity created in Section 63N-1a-401. See Utah Code 63N-1a-102
- 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
| (a) |
The office shall make recommendations to state and federal agencies, local governments, the governor, and the Legislature regarding policies and initiatives that promote the economic development of targeted industries. |
| (b) |
The office may create one or more voluntary advisory committees that may include public and private stakeholders to solicit input on policy guidance and best practices in encouraging the economic development of targeted industries. |
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| (2) |
In evaluating the economic impact of applications for assistance, the GO Utah board shall use an econometric cost-benefit model. |
| (3) |
The GO Utah board may establish:
| (a) |
minimum interest rates to be applied to loans granted that reflect a fair social rate of return to the state comparable to prevailing market-based rates such as the prime rate, U.S. Government T-bill rate, or bond coupon rate as paid by the state, adjusted by social indicators such as the rate of unemployment; and |
| (b) |
minimum applicant expense ratios, as long as they are at least equal to those required under Subsection 63N-3-105(2). |
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Amended by Chapter 499, 2023 General Session
