1. (1) In order to qualify for a tax credit, an alternative energy entity must meet those requirements outlined in Subsection 63M-4-503(1)(b), and must be prepared to:

   1. (a) follow the procedures and expectations outlined in Sections 59-7-614.7, 59-10-1029, and 63M-4-504; and
   2. (b) bear any costs associated with meeting the requirements outlined below in Subsection R362-1-4(2)(b)(ii)(A).

2. (2) In addition, the alternative energy entity must demonstrate the viability of its alternative energy project by submitting evidence it has secured:

   1. (a) one or more land leases or other form of site control; and

   2. (b) one or more of the following:

      1. (i) permits from a local, state or federal regulatory agency, not to include conditional use permits;

      2. (ii) financing sufficient to initiate project development activities, as may be:

         1. (A) assessed, at the office's request, by third party financial review; or
         2. (B) affirmed by the existence of one or more:
         3. (I) power purchase agreements; or
         4. (II) off-take agreements.
      3. (iii) a position in the generation interconnection queue that has advanced beyond the Feasibility Study phase.

KEY: alternative energy development tax credit

Date of Last Change: September 24, 2012

Notice of Continuation: August 22, 2022

Authorizing, and Implemented or Interpreted Law: 63M-4-503(1)(a)