11-42-406 - Assessment for economic promotion activities -- Reporting.
11-42-406. Assessment for economic promotion activities -- Reporting.
(1) (a) If the governing body of a local entity designates an assessment area inaccordance with Part 2, Designating an Assessment Area, for economic promotion activities, thegoverning body:
(i) may levy an assessment to pay for economic promotion activities by adopting anassessment resolution or ordinance in accordance with Section 11-42-404; and
(ii) subject to Subsection (1)(b), may levy an additional assessment for economicpromotion activities for the designated assessment area described in Subsection (1)(a):
(A) by adopting an assessment resolution or an ordinance in accordance with Section11-42-404; and
(B) for a period of five years, beginning on the day on which the local entity adopts theinitial assessment resolution or ordinance described in Subsection (1)(a)(i).
(b) A governing body may not levy an additional assessment to pay for economicpromotion activities after the five-year period described in Subsection (1)(a)(ii)(B) unless thegoverning body:
(i) designates a new assessment area in accordance with Part 2, Designating anAssessment Area; and
(ii) adopts a new assessment resolution or ordinance in accordance with Section11-42-404.
(2) If a local entity designates an assessment area for economic promotion activities, thelocal entity:
(a) shall spend on economic promotion activities at least 70% of the money generatedfrom an assessment levied in the assessment area and from improvement revenues;
(b) may not spend more than 30% of the money generated from the assessment levied inthe assessment area and from improvement revenues on administrative costs, including salaries,benefits, rent, travel, and costs incidental to publications; and
(c) in accordance with Subsection (3), shall publish a detailed report including thefollowing:
(i) an account of money deposited into the assessment fund described in Section11-42-412;
(ii) an account of expenditures from the fund described in Section 11-42-412; and
(iii) a detailed account of whether each expenditure described in Subsection (2)(c)(ii)was made for economic promotion activities described in Subsection (2)(a) or for administrativecosts described in Subsection (2)(b).
(3) A local entity shall publish a report required in Subsection (2)(c):
(a) on:
(i) if available, the local entity's public web site; and
(ii) if the local entity is not a county or municipality, on the public web site of any countyor municipality in which the local entity has jurisdiction;
(b) (i) within one year after the day on which the local entity adopts a new assessmentresolution or ordinance for economic promotion activities; and
(ii) each subsequent year that the economic promotion activities levy is assessed byupdating the information described in Subsection (2)(c); and
(c) for six months on a web site described in Subsection (3)(a) after the day on which thereport is initially published under Subsection (3)(b) or updated under Subsection (3)(b)(ii).
Amended by Chapter 238, 2010 General Session