As used in this part: (1) "Base taxable value" means the taxable value of land within a qualified development zone as shown upon the assessment roll last equalized during the property tax base year. (2) "Committee" means a major sporting event venue zone committee described in Section 63N-3-1706. (3) "Creating entity" means a municipality or a county. (4) "Impacted primary area" means the land outside a major sporting event venue zone but within one mile of the boundary of the major sporting event venue zone. (5) (a) "Major sporting event venue" means a venue that has been or is proposed to be used for the Olympic Games, as confirmed by the Salt Lake City-Utah Committee for the Games, a site, arena, or facility along with supporting or adjacent structures if the expected expenditures to construct, demolish, reconstruct, modify, upgrade, or expand the site, arena, or facility exceeds $100,000,000. (b) "Major sporting event venue" includes structures where an international competition or professional athletic event is not taking place directly but where media, athletes, spectators, organizers, and officials associated with the international competition or professional athletic event are hosted in direct connection with the international competition or professional athletic event taking place at a location described in Subsection (5)(a). (6) "Major sporting event venue zone" means the land, as described in a proposal to create a major sporting event venue zone or a proposal to amend a major sporting event venue zone, or as approved by a committee for a major sporting event venue zone, upon which there are one or more major sporting event venues. (7) "Major sporting event venue zone revenue" means all the revenue captured by a creating entity for an area described in a major sporting event venue zone and if applicable the secondary project area, including: (a) property tax increment; (b) if applicable, local sales and use tax increment; (c) if applicable, accommodations tax; (d) if applicable, transient room tax; and (e) if applicable, resort communities sales and use tax and additional resort communities sales and use tax. (8) "Property tax base year" means, for each property tax increment collection period triggered within a qualified development zone or a proposed qualified development zone, the calendar year before the calendar year in which the property tax increment begins to be collected for the parcels triggered for that collection period. (9) (a) "Property tax increment" means the difference between: (i) the amount of property tax revenue generated each tax year by a taxing entity within a qualified development zone, or proposed qualified development zone, from which property tax increment is to be collected, using the current assessed value and each taxing entity's current certified tax rate as defined in Section 59-2-924; and (ii) the amount of property tax revenue that would be generated from the area described in Subsection (9)(a)(i) using the base taxable value and each taxing entity's current certified tax rate as defined in Section 59-2-924. (b) "Property tax increment" does not include property tax revenue from a multicounty assessing and collecting levy or a county additional property tax described in Section 59-2-1602. (10) "Proposal" means a document, physical or electronic, developed by a creating entity: (a) outlining the need for a major sporting event venue zone; (b) describing the impacted primary area of a proposed major sporting event venue zone; (c) describing the proposed secondary project area of a proposed major sporting event venue zone, if any; and (d) submitted to a major sporting event venue zone committee. (11) "Qualified development zone" means the property within a major sporting event venue zone, and, if applicable, the secondary project area, as approved by the committee as described in this part. (12) "Sales and use tax base year" means a sales and use tax year determined by the first year pertaining to the tax imposed in Section 59-12-103 after the sales and use tax boundary for a major sporting event venue zone is established. (13) (a) "Sales and use tax boundary" means a boundary established as described in Sections
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