2014 Utah Code
Title 17 - Counties
Chapter 31 - Recreational, Tourist, and Convention Bureaus
Section 9 - Payment to Stay Another Day and Bounce Back Fund and Hotel Impact Mitigation Fund.

Effective 5/13/2014
17-31-9. Payment to Stay Another Day and Bounce Back Fund and Hotel Impact Mitigation Fund.
A county in which a qualified hotel, as defined in Section 63M-1-3402, is located shall:

(1)

make an annual payment to the Division of Finance: (a) for deposit into the Stay Another Day and Bounce Back Fund, established in Section 63M-1-3411; (b) for any year in which the Governor's Office of Economic Development issues a tax credit certificate, as defined in Section 63M-1-3402; and (c) in the amount of 5% of the state portion, as defined in Section 63M-1-3402; and

(2)

make payments to the Division of Finance: (a) for deposit into the Hotel Impact Mitigation Fund, created in Section 63M-1-3412; (b) for each year described in Subsection 63M-1-3412(5)(a)(ii) during which the balance of the Hotel Impact Mitigation Fund, defined in Section 63M-1-3412, is less than $2,100,000 before any payment for that year under Subsection 63M-1-3412(5)(a); and (c) in the amount of the difference between $2,100,000 and the balance of the Hotel Impact Mitigation Fund, defined in Section 63M-1-3412, before any payment for that year under Subsection 63M-1-3412(5)(a).

Enacted by Chapter 429, 2014 General Session