Utah Code § 59-2a-205: Amount of renter's credit -- Cost-of-living adjustment -- Prohibition on credit for rental assistance payment -- Calculation of credit when rent includes utilities -- Limitation -- General Fund as source of credit -- Maximum credit.

(1)

(a) Subject to Subsections (2) and (3), for a calendar year beginning on or after January 1, 2024, a claimant may claim a renter's credit for the previous calendar year that does not exceed the following amounts:

If household income is | Percentage of gross rent allowed as a credit

$0 -- $13,884 | 9.5%

$13,885 -- $18,515 | 8.5%

$18,516 -- $23,141 | 7.0%

$23,142 -- $27,770 | 5.5%

$27,771 -- $32,401 | 4.0%

$32,402 -- $36,754 | 3.0%

$36,755 -- $40,840 | 2.5%

(b) For a calendar year beginning on or after January 1, 2025, the commission shall increase or decrease the household income eligibility amounts under Subsection (1)(a) by a percentage equal to the percentage difference between the consumer price index for the preceding calendar year and the consumer price index for calendar year 2023.

(2)

(a) A claimant may claim a renter's credit under this part only for gross rent that does not constitute a rental assistance payment.

(b) For purposes of determining whether a claimant receives a rental assistance payment and in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission may make rules defining the terms:

(i) "governmental entity";

(ii) "charitable organization"; or

(iii) "religious organization."

(3) For purposes of calculating gross rent when a claimant's rent includes electricity or natural gas and the utility amount is not itemized in the statement provided in accordance with Section 59-2a-204, the commission shall deduct from rent:

(a) 7% of rent if the rent includes electricity or natural gas but not both; or

(b) 13% of rent if the rent includes both electricity and natural gas.

(4) An individual may not receive the renter's credit under this section if the individual is:

(a) claimed as a personal exemption on another individual's federal income tax return during any portion of a calendar year for which the individual seeks to claim the renter's credit under this section; or

(b) a dependent with respect to whom another individual claims a tax credit under Section 24(h)(4), Internal Revenue Code, during any portion of a calendar year for which the individual seeks to claim the renter's credit under this section.

(5) A payment for a renter's credit allowed by this section, and authorized by Section 59-2a-202, shall be paid from the General Fund.

(6) A credit under this section may not exceed the maximum amount allowed as a homeowner's credit for each income bracket under Section 59-2a-305.