Local Option - Industrial Facilities and Development Bonds

UT Bond Program commercial industrial institutional

Administered by: Programs are administered at the local level

Program Details

Program ID: 5407
Last Updated: 10/11/2023

Eligibility

Eligible Sectors

commercial industrial institutional

Eligible Technologies

solar water heat geothermal electric solar thermal electric solar photovoltaics wind (all) hydroelectric geothermal heat pumps combined heat & power daylighting equipment insulation lighting chillers furnaces boilers heat pumps air conditioners heat recovery compressed air energy mgmt. systems/building controls caulking/weather-stripping building insulation windows doors other ee wind (small) hydroelectric (small) geothermal direct-use other distributed generation technologies led lighting

Program 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.

Contact & Resources

Additional Resources

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

Please verify current program details with the administering agency before making any financial decisions.