{"data":{"id":"us-ut/utah-code-63n-2-104.3","jurisdiction":"us-ut","citation":"Utah Code § 63N-2-104.3","heading":"Limitations on tax credit amount.","body":"(1) Except as provided in Subsection (2)(a), for a new commercial project that is located within the boundary of a county of the first or second class, the office may not authorize a tax credit that exceeds:\n(a) 50% of the new state revenues from the new commercial project in any given year; or\n(b) 30% of the new state revenues from the new commercial project over a period of up to 20 years.\n(2) If the office authorizes a tax credit for a new commercial project located within the boundary of:\n(a) a municipality with a population of 10,000 or less located within a county of the second class and that is experiencing economic hardship as determined by the office, the office may authorize a tax credit of up to 50% of new state revenues from the new commercial project over a period of up to 20 years;\n(b) a county of the third class, the office may authorize a tax credit of up to 50% of new state revenues from the new commercial project over a period of up to 20 years; and\n(c) a county of the fourth, fifth, or sixth class, the office may authorize a tax credit of 50% of new state revenues from the new commercial project over a period of up to 20 years.","path":["Title 63N Economic Opportunity Act","Chapter 63N-2 Tax Credit Incentives for Economic Development","Part 63N-2-1 Economic Development Tax Increment Financing"],"source_url":"https://le.utah.gov/xcode/Title63N/Chapter2/63N-2-S104.3.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:34Z","sha256":"cc7a4604534c6bac6519e8455e5af191c0a0e3b9f00dc3cc58f94de430f6fddc","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-63n-2-104.2","next":"us-ut/utah-code-63n-2-105"},"notice":"GroundRules: Original legal text. Not legal advice."}