§ 63M-1-3409. Rulemaking authority -- Requirements for rules. (Effective 5/13/2014)

(1) The office shall, in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, make rules to carry out its responsibilities under this part and to implement the provisions of this part.

(2) The rules the office makes under Subsection (1) shall:

(a) establish, consistent with this part, the conditions that a tax credit applicant is required to meet to qualify for a tax credit;

(b) require that a significant capital investment be made in the development of the hotel property;

(c) require a tax credit applicant to meet all applicable requirements in order to receive a tax credit certificate;

(d) require that a qualified hotel owner meet the county's requirements to receive an endorsement letter; and

(e) provide for the establishment of an independent review committee, in accordance with the requirements of Section 63M-1-3404.

Enacted by Chapter 429, 2014 General Session