Utah Code 63N-3-111. Annual policy considerations
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(1)
Terms Used In Utah Code 63N-3-111
- Administrator: means the executive director or the executive director's designee. See Utah Code 63N-3-102
- Applicant: means an individual, for profit business entity, nonprofit, corporation, partnership, unincorporated association, government entity, executive branch department or division of a department, a political subdivision, a state institution of higher education, or any other administrative unit of the state. See Utah Code 63N-3-102
- Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(1)(a) The office shall make recommendations to state and federal agencies, local governments, the governor, and the Legislature regarding policies and initiatives that promote the economic development of targeted industries.
(1)(b) The office may create one or more voluntary advisory committees that may include public and private stakeholders to solicit input on policy guidance and best practices in encouraging the economic development of targeted industries.
(2) The administrator may establish:
(2)(a) minimum interest rates to be applied to loans granted that reflect a fair social rate of return to the state comparable to prevailing market-based rates such as the prime rate, U.S. Government T-bill rate, or bond coupon rate as paid by the state, adjusted by social indicators such as the rate of unemployment; and
(2)(b) minimum applicant expense ratios, as long as they are at least equal to those required under Subsection 63N-3-105 (2).