Local Option - Industrial Facilities and Development Bonds (Utah)
Last modified on February 12, 2015.
Financial Incentive Program
|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|
|Energy Category||Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs|
|Amount|| Locally Determined
|Maximum Incentive|| Locally Determined
|Program Administrator||Programs are administered at the local level|
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.
|Contact Name||General Contact|
|Department|| Economic Development Corporation of Utah
|Phone 2||(801) 328-8824|
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.
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