This rule establishes criteria and procedures for the allocation and issuance of contingent tax credits by the Board. The old rule also established the criteria and procedures for the allocation and issuance of contingent tax credits by the Board. However, this new rule removes all of the old criteria and replaces them with a new set of criteria that is contingent on the Utah Capital Investment Corporation showing economic impact of referrals and subsequent investments. The old rule was based on a system where tax credits were issued based on debt financing for the amount of the investment made by the investor. The new criteria is based on equity investments that show economic impact and are calculated based upon what is now listed in the updated statute. The rule further adds how an investor becomes eligible to receive the tax credits including the issuance of a certificate of eligibility and the form such certificate shall take. The rule further adds the process for several newly created requirements including the assessment of likelihood of tax credit redemption, the criteria for calculating the economic impact of any given investment, criteria for establishing the Target Rate of Return for the investment portfolios, and the process for claiming and redeeming the tax credits. The old rule had similar criteria but these have been updated to reflect the new statutory changes to program while keeping the old criteria in rule for tax credits made prior to 07/01/2015.