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(1) "Applicant" means a person that conducts business in the state and that applies for a tax credit under this part.
(2) "Fuel standard compliance project" means a project designed to retrofit a fuel refinery in order to make the refinery capable of producing fuel that complies with the United States Environmental Protection Agency's Tier 3 gasoline sulfur standard described in 40 C.F.R. Sec. 79.54.
(3) "High cost infrastructure project" means a project:
(a)
(i) that expands or creates new industrial, mining, manufacturing, or agriculture activity in the state, not including a retail business;
(ii) that involves new investment of at least $50,000,000 in an existing industrial, mining, manufacturing, or agriculture entity, by the entity; or
(iii) for the construction of a plant or other facility, including a fueling station, for the storage, production, or distribution of hydrogen fuel used for transportation, electricity generation, or industrial use;
(b) that requires or is directly facilitated by infrastructure construction; and
(c) for which the cost of infrastructure construction to the entity creating the project is greater than:
(i) 10% of the total cost of the project; or
(ii) $10,000,000.
(4) "Infrastructure" means:
(a) an energy delivery project as defined in Section 63H-2-102;
(b) a railroad as defined in Section 54-2-1;
(c) a fuel standard compliance project;
(d) a road improvement project;
(e) a water self-supply project;
(f) a water removal system project;
(g) a solution-mined subsurface salt cavern; or
(h) a project that is designed to:
(i) increase the capacity for water delivery to a water user in the state; or
(ii) increase the capability of an existing water delivery system or related facility to deliver water to a water user in the state.
(5)
(a) "Infrastructure cost-burdened entity" means an applicant that enters into an agreement with the office that qualifies the applicant to receive a tax credit as provided in this part.
(b) "Infrastructure cost-burdened entity" includes a pass-through entity taxpayer, as defined in Section 59-10-1402, of a person described in Subsection (5)(a).
(6) "Infrastructure-related revenue" means an amount of tax revenue, for an entity creating a high cost infrastructure project, in a taxable year, that is directly attributable to a high cost infrastructure project, under:
(a)Title 59, Chapter 7, Corporate Franchise and Income Taxes;
(b)Title 59, Chapter 10, Individual Income Tax Act; and
(c)Title 59, Chapter 12, Sales and Use Tax Act.
(7) "Office" means the Office of Energy Development created in Section 79-6-401.
(8) "Tax credit" means a tax credit under Section 59-7-619 or 59-10-1034.
(9) "Tax credit certificate" means a certificate issued by the office to an infrastructure cost-burdened entity that:
(a) lists the name of the infrastructure cost-burdened entity;
(b) lists the infrastructure cost-burdened entity's taxpayer identification number;
(c) lists, for a taxable year, the amount of the tax credit authorized for the infrastructure cost-burdened entity under this part; and
(d) includes other information as determined by the office.