{"data":{"id":"us-ut/utah-code-79-6-1301","jurisdiction":"us-ut","citation":"Utah Code § 79-6-1301","heading":"Definitions.","body":"As used in this part:\n(1)\n(a) \"Carbon credit\" means a payment or offer of payment, or other financial compensation or benefit, for a carbon emission offset.\n(b) \"Carbon credit\" includes a natural asset credit.\n(c) \"Carbon credit\" does not include a payment or offer of payment related to:\n(i) a right or interest associated with a regulated pollutant, as that term is defined in Title V of the 1990 Clean Air Act; or\n(ii) an industrial or commercial use of liquefied carbon dioxide.\n(2) \"Carbon emission offset\" means:\n(a) a reduction in the amount of greenhouse gas present in the atmosphere; or\n(b) an amount of greenhouse gas prevented from entering the atmosphere.\n(3) \"Digital identification number\" means an identification number assigned to a carbon credit by a governmental or accredited third-party verification entity that certifies or registers a carbon credit for sale or exchange.\n(4) \"Greenhouse gas\" means:\n(a) carbon dioxide or a gas emission converted into a carbon dioxide equivalent; or\n(b) methane.\n(5) \"Natural asset company\" means the same as that term is defined in Section 63L-13-101.\n(6)\n(a) \"Natural asset credit\" means a payment or offer of payment, or other financial compensation or benefit:\n(i) for the preservation of a natural and biological process on a parcel of land; or\n(ii) by a natural asset company for an activity described in Section 63L-13-203.\n(b) \"Natural asset credit\" does not include:\n(i) the commercial extraction, production, or sale of a natural or agricultural resource; or\n(ii) a right or interest associated with the beneficial use or appropriation of water.\n(7) \"State entity\" means a department, commission, board, council, agency, institution of higher education, officer, corporation, fund, division, office, committee, authority, laboratory, library, unit, bureau, panel, or other administrative unit of the state.\n(8)\n(a) \"State funds\" means:\n(i) money appropriated by the Legislature; and\n(ii) a bond issued by a state entity that creates a carbon emission offset.\n(b) \"State funds\" does not include money or financial benefit in the form of:\n(i) a tax incentive;\n(ii) a permit or an activity related to the development of a permit issued by a state entity; or\n(iii) a federal grant administered by a state entity.","path":["Title 79 Natural Resources","Chapter 79-6 Utah Energy Act","Part 79-6-13 Carbon Credit Transactions"],"source_url":"https://le.utah.gov/xcode/Title79/Chapter6/79-6-S1301.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:34Z","sha256":"758a2bc1d10025f77ebf44bf7b9a4ae7f68d97188489f66a579ebf3eacef3253","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-79-6-1202","next":"us-ut/utah-code-79-6-1302"},"notice":"GroundRules: Original legal text. Not legal advice."}