Utah § 63N-3-1708 Major sporting event venue zone boundaries -- Reporting requirements.

Utah Statutes

§ 63N-3-1708 — Major sporting event venue zone boundaries -- Reporting requirements.

Utah·Title 63N Economic Opportunity Act·Ch. 63N-3 Economic Development Programs·Part 63N-3-17 Major Sporting Event Venue Zone Act

(1)After a major sporting event venue zone is approved by the committee, as described in Section 63N-3-1706, the committee shall provide notice to the State Tax Commission, no later than 90 days after the day on which the committee approves the proposal:

(1)(a) of the creation of the major sporting event venue zone, including the information described in Subsection (2);

(1)(b) if the committee approves the creating entity to receive local sales and use tax increment, the information described in Subsection (3); and

(1)(c) any information to the State Tax Commission required by the State Tax Commission.

(2)The notice described in Subsection (1)(a) shall include:

(2)(a) a statement that the major sporting event venue zone will be established under this part;

(2)(b) the approval date and ef

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(1) After a major sporting event venue zone is approved by the committee, as described in Section 63N-3-1706, the committee shall provide notice to the State Tax Commission, no later than 90 days after the day on which the committee approves the proposal:
(1)(a) of the creation of the major sporting event venue zone, including the information described in Subsection (2);
(1)(b) if the committee approves the creating entity to receive local sales and use tax increment, the information described in Subsection (3); and
(1)(c) any information to the State Tax Commission required by the State Tax Commission.
(2) The notice described in Subsection (1)(a) shall include:
(2)(a) a statement that the major sporting event venue zone will be established under this part;
(2)(b) the approval date and effective date of the major sporting event venue zone;
(2)(c) the boundary of the qualified development zone;
(2)(d) the sales and use tax base year, if applicable; and
(2)(e) the sales and use tax boundary, if applicable.
(3) After the effective date of a major sporting event venue zone, as described in Section 63N-3-1707, the creating entity shall provide a written report, no later than August 1, on the creating entity's activities to implement the objectives of the major sporting event venue zone to the executive director.
(4) (4)(a) The executive director shall annually provide a written report, no later than October 1, summarizing all reports received by the executive director under Subsection (3), to the:
(4)(a)(i) Revenue and Taxation Interim Committee;
(4)(a)(ii) Political Subdivisions Interim Committee; and
(4)(a)(iii) Economic Development and Workforce Services Interim Committee.
(4)(b) The executive director shall include with the written report described in Subsection (4)(a) any recommendations to the Legislature for statutory changes to this chapter or Title 11, Chapter 71, Major Sporting Event Venue Zones.

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