17-78-707. Payment to Stay Another Day and Bounce Back Fund and Hotel Impact Mitigation Fund.
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Effective 5/6/2026
17-78-707. Payment to Stay Another Day and Bounce Back Fund and Hotel Impact Mitigation Fund.
A county in which a qualified hotel, as defined in Section 63N-2-502 , is located shall:
(1)make an annual payment to the Division of Finance:
(a)for deposit into the Stay Another Day and Bounce Back Fund, established in Section 63N-2-511 ;
(b)for any year in which the Governor's Office of Economic Development provides a convention incentive, as defined in Section 63N-2-502 ; and
(c)in the amount of 5% of the state portion, as defined in Section 63N-2-502 ; and
(2)make payments to the Division of Finance:
(a)for deposit into the Hotel Impact Mitigation Fund, created in Section 63N-2-512 ;
(b)for each year described in Subsection 63N-2-512(5) during which the balance of the Hotel Impact Mitigation Fund, defined in Section 63N-2-512 , is less than $2,100,000 before any payment for that year under Subsection 63N-2-512(5) ; and
(c)in the amount of the difference between $2,100,000 and the balance of the Hotel Impact Mitigation Fund, defined in Section 63N-2-512 , before any payment for that year under Subsection 63N-2-512(5) .
Amended by Chapter 343 , 2026 General Session