{"data":{"id":"us-ut/utah-code-59-10-1034","jurisdiction":"us-ut","citation":"Utah Code § 59-10-1034","heading":"Nonrefundable high cost infrastructure development tax credit.","body":"(1) As used in this section:\n(a) \"High cost infrastructure project\" means the same as that term is defined in Section 79-6-602.\n(b) \"Infrastructure cost-burdened entity\" means the same as that term is defined in Section 79-6-602.\n(c) \"Infrastructure-related revenue\" means the same as that term is defined in Section 79-6-602.\n(d) \"Office\" means the Office of Energy Development created in Section 79-6-401.\n(2)\n(a) Subject to the other provisions of this section, a claimant, estate, or trust that is an infrastructure cost-burdened entity may claim a nonrefundable tax credit for development of a high cost infrastructure project as provided in this section.\n(b) A claimant, estate, or trust that is an infrastructure cost-burdened entity may not claim a tax credit under this section and under Section 59-5-305 using the same tax credit certificate.\n(3) The tax credit under this section is the amount listed as the tax credit amount on a tax credit certificate that the office issues under Title 79, Chapter 6, Part 6, High Cost Infrastructure Development Tax Credit Act, to the infrastructure cost-burdened entity for the taxable year.\n(4) An infrastructure cost-burdened entity may carry forward a tax credit under this section for a period that does not exceed the next seven taxable years if:\n(a) the infrastructure cost-burdened entity is allowed to claim a tax credit under this section for a taxable year; and\n(b) the amount of the tax credit exceeds the infrastructure cost-burdened entity's tax liability under this chapter for that taxable year.\n(5)\n(a)\n(i) To assist the Revenue and Taxation Interim Committee with the review required by Section 59-10-137, the office shall provide the following information, if available to the office, to the Office of the Legislative Fiscal Analyst:\n(A) the amount of tax credit that the office grants to each infrastructure cost-burdened entity for each taxable year;\n(B) the infrastructure-related revenue generated by each high cost infrastructure project;\n(C) the information contained in the office's latest report under Section 79-6-605; and\n(D) any other information that the Office of the Legislative Fiscal Analyst requests.\n(ii) In providing the information described in Subsection (5)(a)(i), the office shall redact information that identifies a recipient of a tax credit under this section.\n(iii) If, notwithstanding the redactions made under Subsection (5)(a)(ii), reporting the information described in Subsection (5)(a)(i) might disclose the identity of a recipient of a tax credit, the office may file a request with the Revenue and Taxation Interim Committee to provide the information described in Subsection (5)(a)(i) in the aggregate for all infrastructure cost-burdened entities that receive the tax credit under this section.\n(b) The Office of the Legislative Fiscal Analyst shall report to the Revenue and Taxation Interim Committee a summary and analysis of the information provided to the Office of the Legislative Fiscal Analyst by the office under Subsection (5)(a).","path":["Title 59 Revenue and Taxation","Chapter 59-10 Individual Income Tax Act","Part 59-10-10 Nonrefundable Tax Credit Act"],"source_url":"https://le.utah.gov/xcode/Title59/Chapter10/59-10-S1034.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"b5746bd9296631fedfcdfaa366712200d75f62a9c9922f4028998ce61004a502","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-59-10-1033.1","next":"us-ut/utah-code-59-10-1035"},"notice":"GroundRules: Original legal text. Not legal advice."}