DAR File No. 37666

Governor, Economic Development

Rule R357-3

Refundable Economic Development Tax Credit

Five-Year Notice of Review and Statement of Continuation

DAR File No.: 37666
Filed: 05/30/2013 02:39:01 PM

NOTICE OF REVIEW AND STATEMENT OF CONTINUATION

Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:

Subsection 63M-1-2404(2)(a): "By following the procedures and requirements of Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the office shall make rules establishing the conditions that a business entity or local government entity shall meet to qualify for a tax credit under this part."

Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:

During the last five years, the agency has received no written comments on the rule.

Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:

The refundable economic development tax credits as set forth in the statute and the rule are the main tool the agency uses to promote economic development and expansion in the state. Therefore, this rule should be continued.

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Governor
Economic Development
60 E SOUTH TEMPLE 3RD FLR
SALT LAKE CITY, UT 84111

Direct questions regarding this rule to:

• Zachary Derr at the above address, by phone at 801-538-8746, by FAX at 801-538-8888, or by Internet E-mail at zderr@utah.gov

Authorized by:

Spencer Eccles, Executive Director

Effective:

05/30/2013