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Current as of May 05, 2022 | Updated by FindLaw Staff
A county in which a qualified hotel, as defined in Section 63N-2-502, 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 63N-2-511;
(b) for any year in which the Governor's Office of Economic Opportunity provides a convention incentive, as defined in Section 63N-2-502; and
(c) in the amount of 5% of the state portion, as defined in Section 63N-2-502; and
(2) make payments to the Division of Finance:
(a) for deposit into the Hotel Impact Mitigation Fund, created in Section 63N-2-512;
(b) for each year described in Subsection 63N-2-512(5)(a)(ii) during which the balance of the Hotel Impact Mitigation Fund, defined in Section 63N-2-512, is less than $2,100,000 before any payment for that year under Subsection 63N-2-512(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 63N-2-512, before any payment for that year under Subsection 63N-2-512(5)(a).
Cite this article: FindLaw.com - Utah Code Title 17. Counties § 17-31-9. Payment to Stay Another Day and Bounce Back Fund and Hotel Impact Mitigation Fund - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-17-counties/ut-code-sect-17-31-9/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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