Utah § 63N-2-511 Stay Another Day and Bounce Back Fund.

Utah Statutes

§ 63N-2-511 — Stay Another Day and Bounce Back Fund.

Utah·Title 63N Economic Opportunity Act·Ch. 63N-2 Tax Credit Incentives for Economic Development·Part 63N-2-5 New Convention Facility Development Incentives

(1)As used in this section:

(1)(a) "Bounce back fund" means the Stay Another Day and Bounce Back Fund, created in Subsection (2).

(1)(b) "Tourism board" means the Board of Tourism Development created in Section 63N-7-201.

(2)There is created an expendable special revenue fund known as the Stay Another Day and Bounce Back Fund.

(3)The bounce back fund shall:

(3)(a) be administered by the Utah Office of Tourism;

(3)(b) earn interest; and

(3)(c) be funded by:

(3)(c)(i) annual payments under Section 17-78-707 from the county in which a qualified hotel is located;

(3)(c)(ii) money transferred to the bounce back fund under Section 63N-2-503.5 or 63N-2-512; and

(3)(c)(iii) any money that the Legislature chooses to appropriate to the bounce back fund.

(4)Interest earned by the bounce back fund

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(1) As used in this section:
(1)(a) "Bounce back fund" means the Stay Another Day and Bounce Back Fund, created in Subsection (2).
(1)(b) "Tourism board" means the Board of Tourism Development created in Section 63N-7-201.
(2) There is created an expendable special revenue fund known as the Stay Another Day and Bounce Back Fund.
(3) The bounce back fund shall:
(3)(a) be administered by the Utah Office of Tourism;
(3)(b) earn interest; and
(3)(c) be funded by:
(3)(c)(i) annual payments under Section 17-78-707 from the county in which a qualified hotel is located;
(3)(c)(ii) money transferred to the bounce back fund under Section 63N-2-503.5 or 63N-2-512; and
(3)(c)(iii) any money that the Legislature chooses to appropriate to the bounce back fund.
(4) Interest earned by the bounce back fund shall be deposited into the bounce back fund.
(5) The Utah Office of Tourism may use money in the bounce back fund to pay for a tourism program of advertising, marketing, and branding of the state, taking into consideration the long-term strategic plan, economic trends, and opportunities for tourism development on a statewide basis.

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