Certified claim: means a claim that the office has approved and certified as provided in Section 63N-2-505. See Utah Code 63N-2-502
Claim: means a written document submitted by a qualified hotel owner or host local government to request a convention incentive. See Utah Code 63N-2-502
Claimant: means the qualified hotel owner or host local government that submits a claim under Subsection 63N-2-505(1)(a) for a convention incentive. See Utah Code 63N-2-502
Community reinvestment agency: means the same as that term is defined in Section 17C-1-102. See Utah Code 63N-2-502
Construction revenue: means revenue generated from state taxes and local taxes imposed on transactions occurring during the eligibility period as a result of the construction of the hotel property, including purchases made by a qualified hotel owner and its subcontractors. See Utah Code 63N-2-502
Convention incentive: means an incentive for the development of a qualified hotel, in the form of payment from the incentive fund as provided in this part, as authorized in an agreement. See Utah Code 63N-2-502
Host local government: means :
(a)
a county that enters into an agreement with the office for the construction of a qualified hotel within the unincorporated area of the county; or
(b)
a city or town that enters into an agreement with the office for the construction of a qualified hotel within the boundary of the city or town. See Utah Code 63N-2-502
Hotel property: means a qualified hotel and any property that is included in the same development as the qualified hotel, including convention, exhibit, and meeting space, retail shops, restaurants, parking, and other ancillary facilities and amenities. See Utah Code 63N-2-502
Local portion: means the portion of new tax revenue that is generated by local taxes. See Utah Code 63N-2-502
New tax revenue: means construction revenue, offsite revenue, and onsite revenue. See Utah Code 63N-2-502
Offsite revenue: means revenue generated from state taxes and local taxes imposed on transactions by a third-party seller occurring other than on hotel property during the eligibility period, if:
the third-party seller voluntarily consents to the disclosure of information to the office, as provided in Subsection 63N-2-505(2)(b)(i)(E). See Utah Code 63N-2-502
Onsite revenue: means revenue generated from state taxes and local taxes imposed on transactions occurring on hotel property during the eligibility period. See Utah Code 63N-2-502
Qualified hotel: means a full-service hotel development constructed in the state on or after July 1, 2014 that:
(a)
requires a significant capital investment;
(b)
includes at least 85 square feet of convention, exhibit, and meeting space per guest room; and
(c)
is located within 1,000 feet of a convention center that contains at least 500,000 square feet of convention, exhibit, and meeting space. See Utah Code 63N-2-502
Qualified hotel owner: means a person who owns a qualified hotel. See Utah Code 63N-2-502
State portion: means the portion of new tax revenue that is generated by state taxes. See Utah Code 63N-2-502
Third-party seller: means a person who is a seller in a transaction:
(a)
occurring other than on hotel property;
(b)
that is:
(i)
the sale, rental, or lease of a room or of convention or exhibit space or other facilities on hotel property; or
(ii)
the sale of tangible personal property or a service that is part of a bundled transaction, as defined in Section 59-12-102, with a sale, rental, or lease described in Subsection (29)(b)(i); and
the qualified hotel owner or host local government submits a claim and other required documentation, as provided in this section; and
(b)
the office approves and certifies the claim, as provided in this section.
(2)
A qualified hotel owner or host local government that desires to qualify for a convention incentive shall submit to the office:
(a)
a written claim for a convention incentive;
(b)
(i)
for a claim submitted by a qualified hotel owner:
(A)
a certification by the individual signing the claim that the individual is duly authorized to sign the claim on behalf of the qualified hotel owner;
(B)
documentation of the new tax revenue previously generated, itemized by construction revenue, offsite revenue, onsite revenue, type of sales or use tax, and the location of the transaction generating the new tax revenue as determined under Sections 59-12-211, 59-12-211.1, 59-12-212, 59-12-213, 59-12-214, and 59-12-215;
(C)
the identity of sellers collecting onsite revenue and the date the sellers will begin collecting onsite revenue;
(D)
a document in which the qualified hotel owner expressly directs and authorizes the commission to disclose to the office the qualified hotel owner’s tax returns and other information that would otherwise be subject to confidentiality under Section 59-1-403 or Section 6103, Internal Revenue Code;
(E)
a document in which the qualified hotel’s direct vendors, lessees, or subcontractors, as applicable, expressly direct and authorize the commission to disclose to the office the tax returns and other information of those vendors, lessees, or subcontractors that would otherwise be subject to confidentiality under Section 59-1-403 or Section 6103, Internal Revenue Code;
(F)
a document in which a third-party seller expressly and voluntarily directs and authorizes the commission to disclose to the office the third-party seller’s tax returns and other information that would otherwise be subject to confidentiality under Section 59-1-403 or Section 6103, Internal Revenue Code;
(G)
documentation verifying that the qualified hotel owner is in compliance with the terms of the agreement; and
(H)
any other documentation that the agreement or office requires; and
(ii)
for an application submitted by a host local government, documentation of the new tax revenue generated during the preceding year;
(c)
if the host local government intends to assign the convention incentive to a community reinvestment agency, a document signed by the governing body members of the community reinvestment agency that expressly directs and authorizes the commission to disclose to the office the agency’s tax returns and other information that would otherwise be subject to confidentiality under Section 59-1-403 or Section 6103, Internal Revenue Code; and
(d)
an audit level attestation, or other level of review approved by the office, from an independent certified public accountant, hired by the claimant, attesting to the accuracy and validity of the amount of the state portion and the local portion being claimed by the claimant.
(3)
(a)
The office shall submit to the commission the documents described in Subsections (2)(b)(i)(C), (D), and (E) and (2)(c) authorizing disclosure of the tax returns and other information.
(b)
Upon receipt of the documents described in Subsection (3)(a), the commission shall provide to the office the tax returns and other information described in those documents.
(4)
If the office determines that the tax returns and other information are inadequate to enable the office to approve and certify a claim, the office shall inform the claimant that the tax returns and other information were inadequate and request the tax credit applicant to submit additional documentation to validate the claim.
(5)
If the office determines that the returns and other information, including any additional documentation provided under Subsection (4), comply with applicable requirements and provide reasonable justification to approve and certify the claim, the office shall:
(a)
approve and certify the claim;
(b)
determine the amount of the certified claim; and
(c)
disburse money from the incentive fund to pay the certified claim as provided in Subsection (6).
(6)
The office shall pay claims from available money in the incentive fund at least annually.
(7)
For each certified claim, the office shall provide the commission:
(a)
for onsite revenue:
(i)
the identity of sellers operating upon the hotel property;
(ii)
the date that the commission is to begin depositing or transferring onsite revenue under Section 63N-2-503.5 for each seller operating upon the hotel property;
(iii)
the date that the commission is to stop depositing or transferring onsite revenue to the incentive fund under Section 63N-2-503.5 for each seller operating upon the hotel property; and
(iv)
the type of sales or use tax subject to the commission’s deposit or transfer to the incentive fund under Section 63N-2-503.5;
(b)
for construction revenue and offsite revenue:
(i)
the amount of new tax revenue authorized under the agreement constituting construction revenue or offsite revenue;
