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Senate adopts compromise formula for Olympic revenue distribution after debate
Summary
Senate amends and approves Senate Bill 67 to divide Olympic-related municipal revenue 50% by population and 50% by point-of-sale/time-of-incorporation; senators debated fairness for cities and counties and concerns about venue maintenance funding.
SALT LAKE CITY — The Utah Senate on Feb. 14 amended and passed Senate Bill 67, a measure setting a formula for distributing a portion of Olympic-related municipal revenues among cities and counties.
Sponsor Sen. Wadhams presented amendment No. 6 to allocate distribution 50% on population and 50% on point-of-sale or length of incorporation, describing it as a compromise between competing city and county interests. “What this does is implement a formula that allows for 50% to be based on population and the other 50% to be allocated based on point of sale…
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