H.B. 356
         NEW CONVENTION HOTEL DEVELOPMENT INCENTIVE PROVISIONS

House Committee Amendments

Amendment 1 February 18, 2014 1:46 PM



Representative Brad R. Wilson proposes the following amendments:

1.    Page 3, Lines 70 through 71 :    

             70          (3) in the amount of 5% of the state portion, as defined in Section 63M-1-3402
{   , of the

             71      tax credit, as defined in Section 63M-1-3402 , awarded by the tax credit certificate   } .

2.    Page 3, Lines 75 through 81 :    

             75          
{   (a) "Eligibility period" has the same meaning as defined in Section 63M-1-3402 .   }

             76          
{   (b)   }        (a)       "Office" means the Governor's Office of Economic Development.

             77          
{   (c)   }        (b)       "Pass-through entity" has the same meaning as defined in Section 59-10-1402 .

             78          
{   (d)   }        (c)       "Pass-through entity taxpayer" has the same meaning as defined in Section

             79      59-10-1402 .
             80          
{   (e)   }        (d)       "Tax credit certificate" has the same meaning as defined in Section 63M-1-3402 .

             81          
{   (f)   }        (e)       "Tax credit recipient" has the same meaning as defined in Section 63M-1-3402 .


3.    Page 4, Lines 110 through 116 :    

             110          
{   (a) "Eligibility period" has the same meaning as defined in Section 63M-1-3402 .   }

             111          
{   (b)   }        (a)       "Office" means the Governor's Office of Economic Development.

             112          
{   (c)   }        (b)       "Pass-through entity" has the same meaning as defined in Section 59-10-1402 .

             113          
{   (d)   }        (c)       "Pass-through entity taxpayer" has the same meaning as defined in Section

             114      59-10-1402 .
             115          
{   (e)   }        (d)       "Tax credit certificate" has the same meaning as defined in Section 63M-1-3402 .

             116          
{   (f)   }        (e)       "Tax credit recipient" has the same meaning as defined in Section 63M-1-3402 .


4.    Page 7, Line 199 :    

             199          (ii) ends
  :

    (A) for purposes of the state portion,  
20 years after the date of initial occupancy of that qualified hotel; or

    
  (B) for purposes of the local portion, 25 years after the date of initial occupancy of that hotel; or      


5.    Page 8, Line 221 :    

             221          (10) "Local portion" means
  :

    (a)       the portion of new tax revenue that is not the state portion      {   .   }        ; and

    (b) incremental property tax revenue.  


6.    Page 8, Line 226 :    

             226      subcontractors;
{   and   }


7.    Page 8, Line 228 :    

             228      and Use Tax Act, on transactions occurring on hotel property during the eligibility period
{   .   }        ; and

    (c) all incremental new revenue generated from a tax under Title 59, Chapter 12, Sales and Use Tax Act, on transactions by a third-party seller occurring other than on hotel property during the eligibility period, if:
    (i) the transaction is subject to a tax under Title 59, Chapter 12, Sales and Use Tax Act; and
    (ii) the third-party seller voluntarily consents to the disclosure of information to the office, as provided in Subsection 63M-1-3405(1)(b)(i)(E).  


8.    Page 9, Line 260 :    

             260      certificate.
    
  (22) "Third-party seller" means a person who is a seller in a transaction:

    (a) occurring other than on hotel property;
    (b) that is:
    (i) the sale, rental, or lease of a room or of convention or exhibit space or other facilities on hotel property; or
    (ii) the sale of tangible personal property or a service on hotel property; and
    (c) that is subject to a tax under Title 59, Chapter 12, Sales and Use Tax Act.  


9.    Page 12, Lines 346 through 347 :    

             346     
{   and   }

    
  (E) a document in which a third-party seller expressly and voluntarily directs and authorizes the commission to disclose to the office the third-party seller's tax returns and other information that would otherwise be subject to confidentiality under Section 59-1-403 or Section 6103, Internal Revenue Code, and that shows the amount of tax under Title 59, Chapter 12, Sales and Use Tax Act, that the third-party seller has collected in a transaction occurring other than on hotel property for the sale, rental, or lease of a room or of convention or exhibit space or other facilities on hotel property or for the sale of tangible personal property or a service on hotel property; and      

             347          
{   (E)   }        (F)       documentation verifying that the qualified hotel owner has satisfied the


10.    Page 15, Line 451 :    

             451          (5)
{   The   }        Subject to appropriation, the       board may use money in the account to pay for a

tourism program of



11.    Page 16, Line 465 :    

             465      meeting space on hotel property
  , including any associated labor and overhead       ; or

Page 1 of 3
LRGC rrees rrees