Utah Rural Jobs Act Modifications
What changed between versions
Added a new nonrefundable tax credit (Section 59-9-109) specifically for insurers and their affiliates that make investments in rural small businesses.
Updated definitions in Section 63N-4-302 to include 'phase three investment authority' and clarified criteria for 'eligible small businesses' and 'high wage' employees.
Revised application and approval processes in Section 63N-4-303 to establish specific start dates for accepting applications for different investment phases (2017, 2022, and 2026).
Strengthened revocation conditions in Section 63N-4-305 to ensure rural investment companies maintain investments in eligible small businesses within rural counties and adhere to reporting deadlines.
Set a specific effective date of May 6, 2026, for the bill's provisions, with the new tax credit section effective January 1, 2027.
Corrected formatting errors, repealed an obsolete title provision, and updated references to align with current legislative numbering.
