This bill defines an opportunity zone as an area that has been designated in the state under Section 1400Z-1, Internal Revenue Code. 

The bill allows the DEQ to administer a program providing an incentive to a private entity for the installation of electric vehicle supply equipment and to prioritize the applications of private entities that are installing this equipment in an opportunity zone.

It allows the executive director of the Utah Housing Board to prioritize the distribution of funds to projects within opportunity zones.

Allows the Housing Loan Fund Board to prioritize to receive funds from the Economic Revitalization and Investment Fund projects within an opportunity zone.

Requires the Utah Housing Corporation to give preference in allocating tax credits to a qualified development in an opportunity zone. 

The bill creates a non-refundable tax credit for eligible construction costs in an opportunity zone. Allows a business entity to carry forward the tax credit that exceeds the business' tax liability for three years. It does not allow a business to carry back the amount of the tax credit exceeding the business entity's tax liability. 

The bill requires the Utah Housing Corporation to give preference to low-income housing tax credits to qualified development in an opportunity zone.

The bill requires businesses seeking a tax credit for eligible construction in an opportunity zone to apply annually for a tax credit certificate approved by the State Tax Commission. Application is to include: proof of eligible construction costs, responses to the office's questions about benefits to the business and members of the public.