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S.B. 211

             1     

OLYMPIC FINANCING AMENDMENTS

             2     
2000 GENERAL SESSION

             3     
STATE OF UTAH

             4     
Sponsor: L. Alma Mansell

             5      AN ACT RELATING TO THE OLYMPIC WINTER GAMES OF 2002; MODIFYING THE
             6      DATE BY WHICH CERTAIN COUNTIES OR MUNICIPALITIES RECEIVE THEIR
             7      PROPORTIONATE SHARE OF REIMBURSEMENT OF SALES AND USE TAXES USED TO
             8      BUILD WINTER SPORTS FACILITIES.
             9      This act affects sections of Utah Code Annotated 1953 as follows:
             10      AMENDS:
             11          63A-7-113, as last amended by Chapter 133, Laws of Utah 1999
             12      Be it enacted by the Legislature of the state of Utah:
             13          Section 1. Section 63A-7-113 is amended to read:
             14           63A-7-113. Disbursement of the Olympic Special Revenue Fund.
             15          (1) As used in this section:
             16          (a) "Base sales and use tax amount" means the first $59,000,000 deposited in the Olympic
             17      Special Revenue Fund under Subsection 59-12-103 (4);
             18          (b) "Olympics Special Revenue Fund" means the fund or funds created under Subsection
             19      59-12-103 (4); and
             20          (c) "Proportionate share" means the percentage of the total sales and use taxes deposited
             21      under Subsection 59-12-103 (4) that are generated by a county or municipality.
             22          (2) Beginning on August 30, 1999, the monies in the Olympic Special Revenue Fund shall
             23      be distributed as follows:
             24          (a) on or before August 30, 1999, each county or municipality described in Subsections
             25      (2)(b) and (c) shall receive the county's or municipality's proportionate share of:
             26          (i) the sales and use taxes in excess of the base sales and use tax amount; and
             27          (ii) interest on the amounts described in Subsection (2)(a)(i) for the period beginning on


             28      the day on which the sales and use taxes deposited into the Olympic Special Revenue Fund equal
             29      the base amount and ending on the day on which the disbursement is made to the county or
             30      municipality;
             31          (b) on or before [January] March 15, 2002, each county or municipality other than a county
             32      or municipality described in Subsection (2)(c) shall receive the county's or municipality's
             33      proportionate share of amounts deposited into the Olympic Special Revenue Fund by a public
             34      sports entity as reimbursement of sales and use taxes deposited under Subsection 59-12-103 (4);
             35      and
             36          (c) by no later than May 5, 2003, there may be distributed to any county or municipality
             37      that has entered into an indemnification agreement with the state regarding risks related to the
             38      Winter Olympic Games of 2002:
             39          (i) the proportionate share of amounts deposited into the Olympic Special Revenue Fund
             40      by a public sports entity as reimbursement of sales and use taxes deposited under Subsection
             41      59-12-103 (4); and
             42          (ii) interest on the amounts described in Subsection (2)(c)(i) for the period beginning on
             43      S [ January ] MARCH s 15, 2002, and ending on the day on which the disbursement is made to the
             43a      county or
             44      municipality; and
             45          (d) any monies in the Olympic Special Revenue Fund after the disbursement under
             46      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.

Office of Legislative Research and General Counsel


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