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H.B. 171
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REAUTHORIZATION OF THE RECYCLING
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MARKET DEVELOPMENT ZONE ACT
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2000 GENERAL SESSION
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STATE OF UTAH
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Sponsor: Ben C. Ferry
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AN ACT RELATING TO STATE AFFAIRS; EXTENDING THE SUNSET DATE OF THE
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RECYCLING MARKET DEVELOPMENT ZONE ACT AND ACCOMPANYING SECTIONS;
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CLARIFYING WHEN CERTAIN TAX CREDITS CAN BE CLAIMED OR CARRIED
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FORWARD; AND MAKING TECHNICAL CHANGES.
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This act affects sections of Utah Code Annotated 1953 as follows:
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AMENDS:
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63-55-209, as last amended by Chapters 21, 76 and 156, Laws of Utah 1999
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Be it enacted by the Legislature of the state of Utah:
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Section 1.
Section
63-55-209
is amended to read:
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63-55-209. Repeal dates, Title 9.
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(1) Title 9, Chapter 1, Part 8, Commission on National and Community Service Act, is
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repealed July 1, 2004.
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[(2) Title 9, Chapter 2, Part 3, Small Business Advisory Council, is repealed July 1, 1999.]
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[(3)] (2) Title 9, Chapter 2, Part 4, Enterprise Zone Act, is repealed July 1, 2008.
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[(5)] (3) Section
9-2-1208
regarding waste tire recycling loans is repealed July 1, 2000.
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[(6)](4) (a) Title 9, Chapter 2, Part 16, Recycling Market Development Zone Act, is
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repealed July 1, [2000,] 2004.
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(b) Sections
59-7-610
and
59-10-108.7
, regarding tax credits for certain persons in
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recycling market development zones, are repealed for tax years beginning on or after January 1,
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[2001] 2005.
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(c) Notwithstanding Subsection (4)(b), a person may not claim a tax credit under Section
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59-7-610
or
59-10-108.7
:
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(i) for the purchase price of machinery or equipment described in Section
59-7-610
or
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59-10-108.7
if the machinery or equipment is purchased on or after July 1, 2004; or
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(ii) for an expenditure described in Subsection
59-7-610
(1)(b) or
59-10-108.7
(1)(b), if the
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expenditure is made on or after July 1, 2004.
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(d) Notwithstanding Subsections (4)(b) and (c), a person may carry forward a tax credit
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in accordance with Section
59-7-610
or
59-10-108.7
if:
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(i) the person is entitled to a tax credit under Section
59-7-610
or
59-10-108.7
; and
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(ii) (A) for the purchase price of machinery or equipment described in Section
59-7-610
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or
59-10-108.7
, the machinery or equipment is purchased on or before June 30, 2004; or
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(B) for an expenditure described in Subsection
59-7-610
(1)(b) or
59-10-108.7
(1)(b), the
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expenditure is made on or before June 30, 2004.
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[(7)] (5) Title 9, Chapter 3, Part 3, Heber Valley Historic Railroad Authority, is repealed
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July 1, 2009.
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[(8) Title 9, Chapter 4, Part 4, Disaster Relief, is repealed July 1, 1999.]
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[(9)] (6) Title 9, Chapter 4, Part 9, Utah Housing Finance Agency Act, is repealed July 1,
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2006.
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[(4)] (7) Title 9, Chapter 13, Utah Technology and Small Business Finance Act, is repealed
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July 1, 2002.
Legislative Review Note
as of 11-18-99 2:35 PM
A limited legal review of this legislation raises no obvious constitutional or statutory concerns.
Office of Legislative Research and General Counsel
Committee Note
The Business, Labor, and Economic Development Interim Committee recommended this bill.
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