42-6202

42-6202. Commercial government property lease
excise tax; database

A. A government lessor shall levy and the county treasurer shall collect an annual
excise tax on each prime lessee for the use or occupancy of each government lessor's
government property improvement.

B. A government lessor may not own or operate a government property improvement
unless one of the following applies:

1. The improvement is subject to the government property lease excise tax under
this article with respect to the improvement.

2. The improvement is exempt from tax under section 42-6208.

3. Tax on the improvement has been abated under section 42-6209.

C. Within thirty days after entering into a lease for the occupancy of a government
property improvement, the government lessor shall:

1. Record a memorandum of lease in the office of the county recorder in the county
in which the government property improvement is located. The memorandum of lease must
include the basic lease terms, including the names of the parties, the leased property,
the lease term, including the beginning and ending dates, and any options to renew the
lease or to purchase any of the government property improvement or government owned land.

2. Submit to the county treasurer and the department of revenue copies of the lease
or an abstract of the lease.

D. The department of revenue shall maintain a public database by county, city and
town of all government property leases that are subject to the tax under this article.

E. If a county assessor becomes aware of a government property improvement that is
or should be subject to the tax under this article, the assessor shall notify the county
treasurer and the department of revenue for confirmation that the improvement is included
in their databases.