Utah Admin. Code R357-10-10 - Reporting
(1) The initial annual report required by
Utah Code Section
63M-1-3510(1)
shall include:
(a) Reporting of Transaction
Costs: A qualified community development entity shall report on the
transactional costs of all qualified low-income community investments made
utilizing this program. The report shall contain the same information and be in
the same format as required by the Transactional Level Report under the Federal
New Market Tax Credit Program and shall contain the same information and
format.
(2) Any report
required by Utah Code Section 63M-1-3510 shall include, if applicable:
(a) Reinvestment Reporting: If an initial
investment is sold or repaid, and the qualified community development entity
reinvests an amount equal to the amount of capital returned or recovered by the
qualified community development entity from the original investment, the
qualified community development entity shall provide sufficient documentation
such as bank statements and mapping to show it is in compliance with Utah Code
Section 63M-1-3504(1)(c):
Notes
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