Utah Code 63N-2-513. Authorized expenditures of convention incentive
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(1) A qualified hotel owner or host local government may spend money received from the state portion of a convention incentive only for a purpose described in Subsection 63N-2-508(2)(a).
Terms Used In Utah Code 63N-2-513
- Agreement: means an agreement described in Section 63N-2-503. See Utah Code 63N-2-502
- Convention incentive: means an incentive for the development of a qualified hotel, in the form of payment from the incentive fund as provided in this part, as authorized in an agreement. See Utah Code 63N-2-502
- Host local government: means :(13)(a) a county that enters into an agreement with the office for the construction of a qualified hotel within the unincorporated area of the county; or(13)(b) a city or town that enters into an agreement with the office for the construction of a qualified hotel within the boundary of the city or town. See Utah Code 63N-2-502
- Local portion: means the portion of new tax revenue that is generated by local taxes. See Utah Code 63N-2-502
- Public infrastructure: means :
(22)(a) water, sewer, storm drainage, electrical, telecommunications, and other similar systems and lines;(22)(b) streets, roads, curbs, gutters, sidewalks, walkways, parking facilities, and public transportation facilities; and(22)(c) other buildings, facilities, infrastructure, and improvements that benefit the public. See Utah Code 63N-2-502- Qualified hotel: means a full-service hotel development constructed in the state on or after July 1, 2014 that:
(23)(a) requires a significant capital investment;(23)(b) includes at least 85 square feet of convention, exhibit, and meeting space per guest room; and(23)(c) is located within 1,000 feet of a convention center that contains at least 500,000 square feet of convention, exhibit, and meeting space. See Utah Code 63N-2-502- Qualified hotel owner: means a person who owns a qualified hotel. See Utah Code 63N-2-502
- State portion: means the portion of new tax revenue that is generated by state taxes. See Utah Code 63N-2-502
(2) A qualified hotel owner or host local government may spend money received from the local portion of a convention incentive only for:(2)(a) a purpose described in Subsection (1);(2)(b) public infrastructure; and(2)(c) other purposes as specified in the agreement.