63M-1-910 - Annual policy considerations.
63M-1-910. Annual policy considerations.
(1) The board shall determine annually which industries or groups of industries shall betargeted industries as defined in Section 63M-1-902.
(2) In designating an economically disadvantaged rural area, the board shall consider theaverage agricultural and nonagricultural wage, personal income, unemployment, and employmentin the area.
(3) In evaluating the economic impact of applications for assistance, the board shall usean econometric cost-benefit model or models adopted by the Governor's Office of Planning andBudget.
(4) The board may establish:
(a) minimum interest rates to be applied to loans granted that reflect a fair social rate ofreturn 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 indicatorssuch as the rate of unemployment; and
(b) minimum applicant expense ratios, as long as they are at least equal to those requiredunder Subsection 63M-1-906(1)(a) or 63M-1-908(1)(b)(i)(A).
Renumbered and Amended by Chapter 382, 2008 General Session