S.B. 67

1

SALES TAX - DISTRIBUTION OF
2 OLYMPIC SPECIAL REVENUE FUND MONIES
3 2001 GENERAL SESSION
4 STATE OF UTAH
5 Sponsor: Michael G. Waddoups
6 This act modifies the Utah Sports Authority Act. The act modifies disbursement from the
7 Olympic Special Revenue Fund by modifying the determination of a municipality's or
8 county's percentage of total sales and use taxes generated and deposited into the Olympic
9 Special Revenue Fund.
10 This act affects sections of Utah Code Annotated 1953 as follows:
11 AMENDS:
12 63A-7-113, as last amended by Chapter 115, Laws of Utah 2000
13 Be it enacted by the Legislature of the state of Utah:
14 Section 1. Section 63A-7-113 is amended to read:
15 63A-7-113. Disbursement of the Olympic Special Revenue Fund.
16 (1) As used in this section:
17 [(a) "Base sales and use tax amount" means the first $59,000,000 deposited in the Olympic
18 Special Revenue Fund under Subsection 59-12-103 (4);]
19 [(b)] (a) "Olympics Special Revenue Fund" means the fund or funds created under
20 Subsection 59-12-103 (4)[; and].
21 [(c)] (b) "Proportionate share" means the percentage of the total sales and use taxes
22 deposited under Subsection 59-12-103 (4) that are generated by a county or municipality.
23 (2) Each municipality that exists on January 1, 2002 is considered to have existed, with
24 its January 1, 2002 geographic boundaries, from January 1, 1990 through December 31, 1999 for
25 purposes of:
26 (a) determining the proportionate share of the:
27 (i) municipality; and

28 (ii) county in which the municipality is located; and
29 (b) disbursing the proportionate share, under Subsections (3)(a) and (b), of the:
30 (i) municipality; and
31 (ii) county in which the municipality is located.
32 [(2)] (3) [Beginning on August 30, 1999, the] The monies in the Olympic Special Revenue
33 Fund shall be distributed as follows:
34 [(a) on or before August 30, 1999, each county or municipality described in Subsections
35 (2)(b) and (c) shall receive the county's or municipality's proportionate share of:]
36 [(i) the sales and use taxes in excess of the base sales and use tax amount; and]
37 [(ii) interest on the amounts described in Subsection (2)(a)(i) for the period beginning on
38 the day on which the sales and use taxes deposited into the Olympic Special Revenue Fund equal
39 the base amount and ending on the day on which the disbursement is made to the county or
40 municipality;]
41 [(b)] (a) on or before March 15, 2002, each county or municipality other than a county or
42 municipality described in Subsection [(2)(c)] (3)(b) shall receive the county's or municipality's
43 proportionate share of amounts deposited into the Olympic Special Revenue Fund by a public
44 sports entity as reimbursement of sales and use taxes deposited under Subsection 59-12-103 (4);
45 [and]
46 [(c)] (b) by no later than May 5, 2003, there may be distributed to any county or
47 municipality that has entered into an indemnification agreement with the state regarding risks
48 related to the Winter Olympic Games of 2002:
49 (i) the proportionate share of amounts deposited into the Olympic Special Revenue Fund
50 by a public sports entity as reimbursement of sales and use taxes deposited under Subsection
51 59-12-103 (4); and
52 (ii) interest on the amounts described in Subsection [(2)(c)] (3)(b)(i) for the period
53 beginning on March 15, 2002, and ending on the day on which the disbursement is made to the
54 county or municipality; and
55 [(d)] (c) any monies in the Olympic Special Revenue Fund after the disbursement under
56 Subsection (2)[(c)](b) shall be deposited in the General Fund.

Legislative Review Note
as of 1-23-01 10:14 AM

A limited legal review of this legislation raises no obvious constitutional or statutory concerns.

Office of Legislative Research and General Counsel