Section 309 – Exit.
Effective 5/4/2022 63N-4-309. Exit. (1) (a) On or after the seventh anniversary of the closing date, and on or before the twelfth anniversary of the closing date, each rural investment company shall apply to the office to exit the program and no longer be subject to this part. (b) A rural investment company that receives […]
Section 403 – Creation of Rural Employment Expansion Grant Program — Duties of the office.
Affected by 63I-1-263 on 7/1/2023 Effective 7/1/2022 63N-4-403. Creation of Rural Employment Expansion Grant Program — Duties of the office. (1) There is created the Rural Employment Expansion Grant Program administered by the office. (2) The office shall: (a) review a business entity’s application for a grant in the order in which the application is […]
Section 404 – Grant application process.
Affected by 63I-1-263 on 7/1/2023 Effective 7/1/2022 63N-4-404. Grant application process. (1) For a fiscal year beginning on or after July 1, 2018, a business entity seeking to receive a grant shall provide the office with an application in a form approved by the office that includes: (a) a certification, by an officer of the […]
Section 305 – Revocation of tax credit certificates and exit.
Effective 5/4/2022 63N-4-305. Revocation of tax credit certificates and exit. (1) Except as provided in Subsection (2), the office shall revoke a tax credit certificate issued under Section 63N-4-304 if the rural investment company in which the credit-eligible capital contribution was made does any of the following before the rural investment company exits the program […]
Section 306 – Request for determination.
Effective 5/9/2017 63N-4-306. Request for determination. (1) A rural investment company, before making a growth investment, may request from the office a written opinion as to whether the business in which a rural investment company proposes to invest is an eligible small business. (2) The office shall notify the rural investment company of the office’s […]
Section 101 – Title — Definitions.
Effective 7/1/2021 63N-4-101. Title — Definitions. (1) This chapter is known as the “Rural Development Act.” (2) As used in this part, “program” means the Rural Development Program created in Section 63N-4-102. Amended by Chapter 282, 2021 General Session
Section 102 – Rural Development Program — Supervision by office.
Effective 7/1/2021 63N-4-102. Rural Development Program — Supervision by office. (1) There is created within the office the Center for Rural Development. (2) The Center for Rural Development is under the administration and general supervision of the office. Amended by Chapter 282, 2021 General Session
Section 103 – Purpose of the Center for Rural Development.
Effective 5/4/2022 63N-4-103. Purpose of the Center for Rural Development. The Center for Rural Development is established to: (1) foster and support economic development programs and activities for the benefit of rural counties and communities; (2) foster and support community, county, and resource management planning programs and activities for the benefit of rural counties and […]
Section 104 – Duties.
Effective 7/1/2022 63N-4-104. Duties. (1) The Center for Rural Development shall: (a) work to enhance the capacity of the office to address rural economic development, planning, and leadership training challenges and opportunities by establishing partnerships and positive working relationships with appropriate public and private sector entities, individuals, and institutions; (b) work with the GO Utah […]
Section 105 – Program manager.
Effective 7/1/2021 63N-4-105. Program manager. (1) The executive director shall appoint a director for the Center for Rural Development with the approval of the governor. (2) The director of the Center for Rural Development shall be a person knowledgeable in the field of rural economic development and planning and experienced in administration. (3) Upon change […]