2006 Utah Code - 63-38f-1306 — Payment procedure.

     63-38f-1306.   Payment procedure.
     Any payment of partial rebates of new state revenues shall be made in accordance with procedures adopted by the office with the advice of the board, to include the following:
     (1) within 90 days of the end of each calendar year, any company or individual that has entered into an agreement with the office under this part shall provide the office with documentation of the new state revenues it claims to have generated during that calendar year, the documentation to include the types of taxes and corresponding amounts of taxes paid directly to the Utah State Tax Commission, and sales taxes paid to Utah vendors and suppliers that are indirectly paid to the Utah State Tax Commission;
     (2) the office shall audit or review the documentation, make a determination of the amount of partial rebates earned under the agreement, and forward an office-approved request for payment of that amount to the Division of Finance, together with information regarding the name and address of the payee and any other information reasonably requested by the office; and
     (3) the Division of Finance shall pay a partial rebate from the Economic Incentive Restricted Account created in Section 63-38f-1309 upon receipt of documentation and the office-approved request from the office under Subsection (2).

Renumbered and Amended by Chapter 148, 2005 General Session