Local Option - Industrial Facilities and Development Bonds (Utah)

From Open Energy Information

Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Utah


Name Local Option - Industrial Facilities and Development Bonds
Incentive Type State Bond Program
Applicable Sector Commercial, Industrial, Institutional
Eligible Technologies Equipment Insulation, Lighting, Chillers, Furnaces, Boilers, Heat pumps, Central Air conditioners, Heat recovery, Compressed air, Energy Mgmt. Systems/Building Controls, Caulking/Weather-stripping, Building Insulation, Windows, Doors, CHP/Cogeneration, Solar Water Heat, Solar Thermal Electric, Photovoltaics, Wind, Hydroelectric, Geothermal Electric, Geothermal Heat Pumps, Daylighting, Small Hydroelectric, LED Lighting
Active Incentive Yes
Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs
Amount Locally Determined








Maximum Incentive Locally Determined





Terms Locally Determined
Program Administrator Programs are administered at the local level
Website http://www.edcutah.org/businessincentives.php


References DSIRE[1]


Summary

Under the Utah Industrial Facilities and Development Act, counties, municipalities, and state universities in Utah may issue Industrial Revenue Bonds (IRBs) or Industrial Development Bonds (IDBs) to promote industrial development and manufacturing facilities. In 2013, Utah extended eligible projects to include energy efficiency upgrades and renewable energy systems. Municipalities may issue revenue bonds in order to finance eligible projects. Proceeds from the sale of bonds may be used to pay for or to reimburse a the project owner, project user, or a lender for the costs of the project. With the added provision to allow reimbursement to lenders, the issuance of bonds may be used by a municipality to create a local loan program, in addition to direct financing of projects.

Incentive Contact

Contact Name General Contact
Department Economic Development Corporation of Utah



Phone (800) 574-8824
Phone 2 (801) 328-8824
Email tbrightwell@edcutah.org
Website http://www.edcutah.org/index.php



Authorities (Please contact the if there are any file problems.)

Authority 1: H.B. 176
Date Enacted 2013-04-01


















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency" Cite error: Invalid <ref> tag; name "DSIRE" defined multiple times with different content