Bill > SB0306

This bill makes several amendments to existing Utah state laws related to sales tax distribution, convention center financing, and hotel impact mitigation. Specifically, the bill adds a provision allowing a first-class county to expend a portion of its sales tax allocation for the revitalization of a convention center and surrounding projects. It also modifies the Hotel Impact Mitigation Fund to provide $2.1 million annually to affected hotels for qualified losses related to city-wide events from 2023 to 2026, with payments calculated based on each hotel's proportional losses. The bill defines a "city-wide event" as an event hosted at a convention facility under a contract with a nonprofit responsible for convention business promotion. Additionally, the bill expands allowable uses of funds for project areas to include land acquisition, commercial and housing development, and parking infrastructure. The amendments aim to provide more flexibility for local governments in using sales tax revenues and supporting convention and hotel-related economic development. The bill is set to take effect on May 7, 2025, unless approved by a two-thirds majority of the legislature, in which case it would take effect upon gubernatorial approval or veto override.

Budget and Finance

https://le.utah.gov/~2025/bills/static/SB0306.html