(1) A tax credit applicant shall establish as part of the application required by Section 63N-2-805 that the tax credit applicant: (a) meets all of the criteria to receive the tax credit for which the tax credit applicant applies, except for the requirement to obtain a tax credit certificate; and (b) will provide a long-term economic benefit to the state. (2) The office may not issue a tax credit certificate to a tax credit applicant if: (a) the tax credit applicant fails to meet the requirements of Subsection (1)(a); and (b) the life science establishment does not enter into an agreement described in Section
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