Terms Used In Utah Code > Title 19 > Chapter 12 > Part 2 - Sales and Use Tax Provisions

• Agent: means the same as that term is defined in Section 61-1-13. See Utah Code 51-7-3
• Air pollution: means the same as that term is defined in Section 19-2-102. See Utah Code 19-12-102
• Bequest: Property gifted by will.
• City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
• Commissioner: means the commissioner of financial institutions. See Utah Code 51-7-3
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Council: means the State Money Management Council created by Section 51-7-16. See Utah Code 51-7-3
• Devise: To gift property by will.
• director: means :
            (4)(a)(i) for purposes of an application or certification under this chapter related to air pollution, the director of the Division of Air Quality; or
            (4)(a)(ii) for purposes of an application or certification under this chapter related to water pollution, the director of the Division of Water Quality. See Utah Code 19-12-102
• Director: means the director of the Utah State Division of Securities of the Department of Commerce. See Utah Code 51-7-3
• Endowment funds: means gifts, devises, or bequests of property of any kind donated to a higher education institution from any source. See Utah Code 51-7-3
• Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Freestanding pollution control property: means tangible personal property located in the state, regardless of whether a purchaser purchases the tangible personal property voluntarily or to comply with a requirement of a governmental entity, if:
            (5)(a)(i) the primary purpose of the tangible personal property is the prevention, control, or reduction of air or water pollution by:

                 (5)(a)(i)(A) the disposal or elimination of, or redesign to eliminate, waste, and the use of treatment works for industrial waste; or

                 (5)(a)(i)(B) the disposal, elimination, or reduction of, or redesign to eliminate or reduce, air pollutants, air pollution, or air contamination sources, and the use of one or more air cleaning devices; and
            (5)(a)(ii) the tangible personal property is not used at, in the construction of, or incorporated into a pollution control facility. See Utah Code 19-12-102
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Governmental Accounting Standards Board: means the Governmental Accounting Standards Board that is responsible for accounting standards used by public entities. See Utah Code 51-7-3
• Higher education institution: means the institutions specified in Section 53B-1-102. See Utah Code 51-7-3
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Local government: means a county, municipality, school district, special district under Title 17B, Limited Purpose Local Government Entities - Special Districts, special service district under Title 17D, Chapter 1, Special Service District Act, or any other political subdivision of the state. See Utah Code 51-7-3
• Market value: means market value as defined in the Master Repurchase Agreement. See Utah Code 51-7-3
• Master Repurchase Agreement: means the current standard Master Repurchase Agreement approved by the Public Securities Association or by any successor organization. See Utah Code 51-7-3
• Maximum amount: means , with respect to qualified depositories, the total amount of:
       (19)(a) deposits in excess of the federal deposit insurance limit; and
       (19)(b) nonqualifying repurchase agreements. See Utah Code 51-7-3
• Nationally recognized statistical rating organization: means an organization that has been designated as a nationally recognized statistical rating organization by the Securities and Exchange Commission's Division of Market Regulation. See Utah Code 51-7-3
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Person: means an individual, trust, firm, estate, company, corporation, partnership, association, state, state or federal agency or entity, municipality, commission, or political subdivision of a state. See Utah Code 19-1-103
• Personal property: includes :
       (25)(a) money;
       (25)(b) goods;
       (25)(c) chattels;
       (25)(d) effects;
       (25)(e) evidences of a right in action;
       (25)(f) a written instrument by which a pecuniary obligation, right, or title to property is created, acknowledged, transferred, increased, defeated, discharged, or diminished; and
       (25)(g) a right or interest in an item described in Subsections (25)(a) through (f). See Utah Code 68-3-12.5
• Personal property: All property that is not real property.
• Pollution control facility: includes :
            (6)(b)(i) an addition to real property described in Subsection (6)(a);
            (6)(b)(ii) the reconstruction of real property described in Subsection (6)(a); or
            (6)(b)(iii) an improvement to real property described in Subsection (6)(a). See Utah Code 19-12-102
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• Public funds: means money, funds, and accounts, regardless of the source from which the money, funds, and accounts are derived, that are owned, held, or administered by the state or any of its boards, commissions, institutions, departments, divisions, agencies, bureaus, laboratories, or other similar instrumentalities, or any county, city, school district, political subdivision, or other public body. See Utah Code 51-7-3
• Public money: means "public funds. See Utah Code 51-7-3
• Public treasurer: includes the state treasurer and the official of any state board, commission, institution, department, division, agency, or other similar instrumentality, or of any county, city, school district, charter school, political subdivision, or other public body who has the responsibility for the safekeeping and investment of any public funds. See Utah Code 51-7-3
• Qualified depository: means a Utah depository institution or an out-of-state depository institution, as those terms are defined in Section 7-1-103, that is authorized to conduct business in this state under Section 7-1-702 or Title 7, Chapter 19, Acquisition of Failing Depository Institutions or Holding Companies, whose deposits are insured by an agency of the federal government and that has been certified by the commissioner of financial institutions as having met the requirements established under this chapter and the rules of the council to be eligible to receive deposits of public funds. See Utah Code 51-7-3
• 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
• Statute: A law passed by a legislature.
• Treatment works: means the same as that term is defined in Section 19-5-102. See Utah Code 19-12-102
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
• Waste: means the same as that term is defined in Section 19-5-102. See Utah Code 19-12-102