Utah Statutes
§ 59-22-302 — Formula for inflation adjustments.
Utah·Title 59 Revenue and Taxation·Ch. 59-22 Model Tobacco Settlement Act·Part 59-22-3 Master Settlement Agreement Provisions
The formula for calculating inflation adjustments, which is referenced in Subsection 59-22-202(1), is set forth in Exhibit C of the Master Settlement Agreement as follows, with the exception of Subsection (7) which is omitted: Exhibit C Formula For Calculating Inflation Adjustment
(1)Any amount that, in any given year, is to be adjusted for inflation pursuant to this Exhibit, the "Base Amount," shall be adjusted upward by adding to such Base Amount the Inflation Adjustment.
(2)The Inflation Adjustment shall be calculated by multiplying the Base Amount by the Inflation Adjustment Percentage applicable in that year.
(3)The Inflation Adjustment Percentage applicable to payments due in the year 2000 shall be equal to the greater of 3% or the CPI%. For example, if the Consumer Price Index f
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Legislative History
Renumbered and Amended by Chapter 229, 2000 General Session
Nearby Sections
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Penalty waiver.§ 59-1-1004
Installment payments.§ 59-1-1005
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Definitions.