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Last Updated October 11, 2023

Program Overview

Category:

Financial Incentive

State:

Utah

Incentive Type:

Bond Program

Administrator:

Programs are administered at the local level

Start Date:

N/A

Expiration Date:

N/A

Web Site:

https://le.utah.gov/xcode/Title11/Chapter17/11-17.html

Applicable Sectors:

N/A

Eligible Renewable/Other Technologies:

N/A

Summary

Under the Utah Industrial Facilities and Development Act, counties, municipalities, and state universities in Utah may issue Industrial Revenue Bonds (IRBs) 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 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.