Section 1001 – Definitions.
Effective 7/1/2022 63N-3-1001. Definitions. As used in this part: (1) “Business entity” means a for-profit or nonprofit entity. (2) “Grant” means a grant awarded as part of the Economic Assistance Grant Program created in Section 63N-3-1002. (3) “Grant program” means the Economic Assistance Grant Program created in Section 63N-3-1002. Enacted by Chapter 362, 2022 General […]
Section 1002 – Creation of Economic Assistance Grant Program — Requirements — Rulemaking — Annual report.
Effective 7/1/2022 63N-3-1002. Creation of Economic Assistance Grant Program — Requirements — Rulemaking — Annual report. (1) There is created the Economic Assistance Grant Program administered by the office. (2) Subject to appropriations from the Legislature, the office may award one or more grants to a business entity to provide funding for projects that: (a) […]
Section 1101 – Definitions.
Affected by 63I-1-263 on 7/1/2025 Effective 5/4/2022 63N-3-1101. Definitions. As used in this part: (1) “Grant” means a grant awarded under Section 63N-3-1102. (2) “Program” means the Manufacturing Modernization Grant Program created in Section 63N-3-1102. (3) “Targeted industry” means an industry or group of industries targeted by the GO Utah board under Section 63N-3-111 for […]
Section 1102 – Manufacturing Modernization Grant Program — Creation — Purpose — Requirements — Rulemaking — Report.
Affected by 63I-1-263 on 7/1/2025 Effective 5/4/2022 63N-3-1102. Manufacturing Modernization Grant Program — Creation — Purpose — Requirements — Rulemaking — Report. (1) (a) There is created the Manufacturing Modernization Grant Program to be administered by the office. (b) The purpose of the program is to award grants to existing Utah businesses to establish, relocate, […]
Section 610 – Sales and use tax increment in a housing and transit reinvestment zone.
Effective 5/4/2022 63N-3-610. Sales and use tax increment in a housing and transit reinvestment zone. (1) A housing and transit reinvestment proposal shall, in consultation with the tax commission: (a) create a sales and use tax boundary as described in Subsection (2); and (b) establish a sales and use tax base year and collection period […]
Section 801 – Creation and administration.
Effective 7/1/2022 63N-3-801. Creation and administration. (1) There is created an enterprise fund known as the “State Small Business Credit Initiative Program Fund” administered by the office. (2) The executive director or the executive director’s designee is the administrator of the fund. (3) Revenues deposited into the fund shall consist of: (a) grants, pay backs, […]
Section 802 – Distribution of fund money.
Effective 7/1/2022 63N-3-802. Distribution of fund money. (1) (a) The office shall make loans and loan guarantees from the fund for the Small Business Credit Initiative created under the Small Business Jobs Act of 2010, 12 U.S.C. Sec. 5701 et seq., as amended, to use federal money for programs that leverage private lending to help […]
Section 803 – Annual accounting.
Effective 7/1/2022 63N-3-803. Annual accounting. (1) The office shall monitor the activities of recipients of the loans and loan guarantees issued under this part on a yearly basis to ensure compliance with the terms and conditions imposed on the recipient by the office under this part. (2) An entity receiving a loan or loan guarantee […]
Section 901 – Definitions.
Affected by 63I-1-263 on 7/1/2027 Effective 5/4/2022 63N-3-901. Definitions. As used in this part: (1) “Applicable agency” means: (a) for a project related to air quality, the Division of Air Quality created in Section 19-1-105; or (b) for a project related to water resources, the Division of Water Resources created in Section 73-10-18. (2) “Business […]
Section 902 – Strategic Innovation Grant Pilot Program.
Affected by 63I-1-263 on 7/1/2027 Effective 5/4/2022 63N-3-902. Strategic Innovation Grant Pilot Program. (1) There is created within the office the Strategic Innovation Grant Pilot Program. (2) Subject to available funds, the office, in consultation with each applicable agency, shall award grants to business entities to implement projects to improve: (a) air quality in the […]