Utah Code 79-6-605. Report to the Legislature

79-6-605. Report to the Legislature.
The office shall report annually to the Public Utilities, Energy, and Technology Interim Committee describing:

(1)	the office’s success in attracting high cost infrastructure projects to the state and the resulting increase in infrastructure-related revenue under this part;

Terms Used In Utah Code 79-6-605

Infrastructure: means :

(a)	an energy delivery project;

(b)	a railroad as defined in Section 54-2-1;

(c)	a fuel standard compliance project;

(d)	a road improvement project;

(e)	a water self-supply project;

(f)	a water removal system project;

(g)	a solution-mined subsurface salt cavern; or

(h)

a project that is designed to:

(i)	increase the capacity for water delivery to a water user in the state; or

(ii)

increase the capability of an existing water delivery system or related facility to deliver water to a water user in the state. See Utah Code 79-6-602

Infrastructure-related revenue: means an amount of tax revenue, for an entity creating a high cost infrastructure project, in a taxable year, that is directly attributable to a high cost infrastructure project, under:

(a)	Title 59, Chapter 7, Corporate Franchise and Income Taxes;

(b)	Title 59, Chapter 10, Individual Income Tax Act; and

(c)	Title 59, Chapter 12, Sales and Use Tax Act. See Utah Code 79-6-602 Office: means the Office of Energy Development created in Section 79-6-401. See Utah Code 79-6-602 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
(2)	the amount of tax credits the office has granted or will grant and the time period during which the tax credits have been or will be granted; and

(3)	the economic impact on the state by comparing infrastructure-related revenue to tax credits that have been or will be granted under this part.

Amended by Chapter 68, 2022 General Session

Previous section

Next section

Part 6 Contents