H.B. 171

1

REAUTHORIZATION OF THE RECYCLING
2 MARKET DEVELOPMENT ZONE ACT
3 2000 GENERAL SESSION
4 STATE OF UTAH
5 Sponsor: Ben C. Ferry
6 AN ACT RELATING TO STATE AFFAIRS; EXTENDING THE SUNSET DATE OF THE
7 RECYCLING MARKET DEVELOPMENT ZONE ACT AND ACCOMPANYING SECTIONS;
8 CLARIFYING WHEN CERTAIN TAX CREDITS CAN BE CLAIMED OR CARRIED
9 FORWARD; AND MAKING TECHNICAL CHANGES.
10 This act affects sections of Utah Code Annotated 1953 as follows:
11 AMENDS:
12 63-55-209, as last amended by Chapters 21, 76 and 156, Laws of Utah 1999
13 Be it enacted by the Legislature of the state of Utah:
14 Section 1. Section 63-55-209 is amended to read:
15 63-55-209. Repeal dates, Title 9.
16 (1) Title 9, Chapter 1, Part 8, Commission on National and Community Service Act, is
17 repealed July 1, 2004.
18 [(2) Title 9, Chapter 2, Part 3, Small Business Advisory Council, is repealed July 1, 1999.]
19 [(3)] (2) Title 9, Chapter 2, Part 4, Enterprise Zone Act, is repealed July 1, 2008.
20 [(5)] (3) Section 9-2-1208 regarding waste tire recycling loans is repealed July 1, 2000.
21 [(6)](4) (a) Title 9, Chapter 2, Part 16, Recycling Market Development Zone Act, is
22 repealed July 1, [2000,] 2004.
23 (b) Sections 59-7-610 and 59-10-108.7 , regarding tax credits for certain persons in
24 recycling market development zones, are repealed for tax years beginning on or after January 1,
25 [2001] 2005.
26 (c) Notwithstanding Subsection (4)(b), a person may not claim a tax credit under Section
27 59-7-610 or 59-10-108.7 :

28 (i) for the purchase price of machinery or equipment described in Section 59-7-610 or
29 59-10-108.7 if the machinery or equipment is purchased on or after July 1, 2004; or
30 (ii) for an expenditure described in Subsection 59-7-610 (1)(b) or 59-10-108.7 (1)(b), if the
31 expenditure is made on or after July 1, 2004.
32 (d) Notwithstanding Subsections (4)(b) and (c), a person may carry forward a tax credit
33 in accordance with Section 59-7-610 or 59-10-108.7 if:
34 (i) the person is entitled to a tax credit under Section 59-7-610 or 59-10-108.7 ; and
35 (ii) (A) for the purchase price of machinery or equipment described in Section 59-7-610
36 or 59-10-108.7 , the machinery or equipment is purchased on or before June 30, 2004; or
37 (B) for an expenditure described in Subsection 59-7-610 (1)(b) or 59-10-108.7 (1)(b), the
38 expenditure is made on or before June 30, 2004.
39 [(7)] (5) Title 9, Chapter 3, Part 3, Heber Valley Historic Railroad Authority, is repealed
40 July 1, 2009.
41 [(8) Title 9, Chapter 4, Part 4, Disaster Relief, is repealed July 1, 1999.]
42 [(9)] (6) Title 9, Chapter 4, Part 9, Utah Housing Finance Agency Act, is repealed July 1,
43 2006.
44 [(4)] (7) Title 9, Chapter 13, Utah Technology and Small Business Finance Act, is repealed
45 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.