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S.B. 211
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OLYMPIC FINANCING AMENDMENTS
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2000 GENERAL SESSION
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STATE OF UTAH
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Sponsor: L. Alma Mansell
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AN ACT RELATING TO THE OLYMPIC WINTER GAMES OF 2002; MODIFYING THE
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DATE BY WHICH CERTAIN COUNTIES OR MUNICIPALITIES RECEIVE THEIR
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PROPORTIONATE SHARE OF REIMBURSEMENT OF SALES AND USE TAXES USED TO
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BUILD WINTER SPORTS FACILITIES.
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This act affects sections of Utah Code Annotated 1953 as follows:
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AMENDS:
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63A-7-113, as last amended by Chapter 133, Laws of Utah 1999
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Be it enacted by the Legislature of the state of Utah:
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Section 1.
Section
63A-7-113
is amended to read:
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63A-7-113. Disbursement of the Olympic Special Revenue Fund.
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(1) As used in this section:
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(a) "Base sales and use tax amount" means the first $59,000,000 deposited in the Olympic
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Special Revenue Fund under Subsection
59-12-103
(4);
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(b) "Olympics Special Revenue Fund" means the fund or funds created under Subsection
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59-12-103
(4); and
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(c) "Proportionate share" means the percentage of the total sales and use taxes deposited
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under Subsection
59-12-103
(4) that are generated by a county or municipality.
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(2) Beginning on August 30, 1999, the monies in the Olympic Special Revenue Fund shall
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be distributed as follows:
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(a) on or before August 30, 1999, each county or municipality described in Subsections
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(2)(b) and (c) shall receive the county's or municipality's proportionate share of:
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(i) the sales and use taxes in excess of the base sales and use tax amount; and
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(ii) interest on the amounts described in Subsection (2)(a)(i) for the period beginning on
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the day on which the sales and use taxes deposited into the Olympic Special Revenue Fund equal
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the base amount and ending on the day on which the disbursement is made to the county or
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municipality;
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(b) on or before [January] March 15, 2002, each county or municipality other than a county
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or municipality described in Subsection (2)(c) shall receive the county's or municipality's
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proportionate share of amounts deposited into the Olympic Special Revenue Fund by a public
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sports entity as reimbursement of sales and use taxes deposited under Subsection
59-12-103
(4);
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and
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(c) by no later than May 5, 2003, there may be distributed to any county or municipality
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that has entered into an indemnification agreement with the state regarding risks related to the
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Winter Olympic Games of 2002:
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(i) the proportionate share of amounts deposited into the Olympic Special Revenue Fund
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by a public sports entity as reimbursement of sales and use taxes deposited under Subsection
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59-12-103
(4); and
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(ii) interest on the amounts described in Subsection (2)(c)(i) for the period beginning on
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S [
January
]
MARCH
s 15, 2002, and ending on the day on which the disbursement is made to the
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county or
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municipality; and
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(d) any monies in the Olympic Special Revenue Fund after the disbursement under
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Subsection (2)(c) shall be deposited in the General Fund.
Legislative Review Note
as of 2-7-00 12:23 PM
A limited legal review of this legislation raises no obvious constitutional or statutory concerns.