Loading...
068 of 2024 - Capital City Revitalization ZoneSALT LAKE CITY ORDINANCE No. 46f 2024 (Adopting a Capital City Revitalization Zone Sales and Use Tax) WHEREAS, for decades, the residents of Salt Lake City (City) and the State of Utah have supported and enjoyed the presence of professional sports in downtown, such that the teams are an integral part of the community. WHEREAS, during the 2024 general legislative session, the Utah legislature passed the Capital City Revitalization Zone Act, Utah Code 63N-3-1401, et seq. (the Act), which establishes procedures to create a revitalization zone project area at and around the Delta Center, home to NBA and NHL franchises. WHEREAS, Utah Code § 59-12-402.5 further authorizes the City to impose a capital city revitalization sales and use tax (Revitalization Zone Sales and Use Tax) upon certain eligible transactions to be used primarily within the adopted project area for the benefit of creating or improving infrastructure in the project area. WHEREAS, the City has met all conditions precedent to imposing the Revitalization Zone Sales and Use Tax by complying with the requirements of the Act and giving final approval to the project area and participation agreement as provided in Utah Code § 63N-3-1406. WHEREAS, the revenues generated through the Revitalization Zone Sales and Use Tax may be used to address needs throughout the project area including, but not limited to, the remodel of the Delta Center; the construction demolition, modification, or realignment of infrastructure or structures that complement the Delta Center and its associated uses; improvements to pedestrian and traffic flow and for aesthetic, entertainment, recreational, and safety purposes; modifications to roads, including state roads; traffic mitigation measures; and investments in law enforcement and public safety. WHEREAS, the Salt Lake City Council finds that the assessment of the Revitalization Zone Sales and Use Tax furthers the general welfare of the citizens of Salt Lake City. NOW, THEREFORE, be it ordained by the City Council of Salt Lake City, Utah: Section 1. That the Revitalization Zone Sales and Use Tax of .5% is hereby established, approved, and levied pursuant to Utah Code § 59-12-402.5. This Revitalization Zone Sales and Use Tax shall be imposed, to the extent permitted, on the eligible transactions identified in Utah Code § § 59-12-402.5. The Revitalization Zone Sales and Use Tax shall be imposed for a period of 30 years, beginning on the date of the first imposition of the tax. The Revitalization Zone Sales and Use Tax shall be imposed in addition to any other sales and use taxes assessed by the City. Section 2. That a notice shall be transmitted informing the Utah State Tax Commission of the City's election to impose at Revitalization Zone Sales and Use Tax in accordance Utah Code § 59-12-403. Section 3. That imposition of the City's Revitalization Zone Sales and Use Tax on eligible transactions shall begin pursuant to the timing specified in Utah Code § 59-12-403. Section 4. That this Ordinance shall become effective on the date of its first publication. Passed by the City Council of Salt Lake City, Utah this � day oO=' 2024. Attest:: 4indyv Lou aderil� Recorder Salt Lake City RecoOffice (SEAL) Transmitted to Mayor on &f d Mayor's Action: Approved Approved as to form: Katherine Lewis, City Attorney Salt Lake City Attorney's Office Bill No. & 8 of 2024. Published: CD& / I aD�I Ordinance approving Revitalization Zone Sales Tax Victoria Petro, Council Chair Vetoed 1 k im � , bg V V Jill Love, Chief Administrative Officer Acting Mayor