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House Extends Recycling Market Development Zone Act; Members Approve Coordination Amendment
Summary
House passed HB 171 to extend the Recycling Market Development Zone Act and adopt a coordinating amendment preventing taxpayers from claiming both Enterprise Zone and Recycling Zone credits in the same year; sponsors said the change balances economic development and environmental goals.
The Utah House on Jan. 25 approved House Bill 171 as amended to extend the Recycling Market Development Zone Act and coordinate tax credits between enterprise zones and recycling zones.
Representative Perry, sponsor of the bill, said the Act, originally established in 1996, provides a 5% income tax credit for qualifying recycling assets, subject to carryforward and yearly…
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