11-71-202. Major sporting event venue zone revenue.
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/ut/title-11/chapter-71/11-71-202A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 1/1/2026
11-71-202. Major sporting event venue zone revenue.
(1)The following are approved revenue sources for a major sporting event venue zone:
(a)property tax increment for:
(i)the major sporting event venue zone, for at least 25 years but no more than 40, as approved by the committee; and
(ii)if applicable, the secondary project area, for at least 25 years but no more than 40, as approved by the committee;
(b)local sales and use tax increment for the major sporting event venue zone, for at least 25 years but no more than 40, as approved by the committee; and
(c)revenue generated by a tax described in Section 11-71-201 .
(2)Revenue generated from a source described in Subsection
(1):
(a)is major sporting event venue zone revenue; and
(b)shall be administered by the creating entity or a fiscal agent designated by the creating entity.
(3)If a creating entity designates a fiscal agent to administer major sporting event venue zone revenue, the creating entity and fiscal agent shall first enter into an interlocal agreement:
(a)governing the administration, distribution, use, and management of major sporting event zone revenue; and
(b)with terms that are consistent with this chapter and Title 63N, Chapter 3, Part 17, Major Sporting Event Venue Zone Act.
Enacted by Chapter 495 , 2025 General Session