Additional fees for license of promoter -- Dedicated credits -- Promotion of contests -- Annual exemption of showcase event.
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(1) In addition to the payment of any other fees and money due under this chapter, every promoter shall pay a license fee determined by the commission and established in rule.
(2) License fees collected under this Subsection (2) from professional boxing contests or exhibitions shall be retained by the commission as a dedicated credit to be used by the commission to award grants to organizations that promote amateur boxing in the state and cover commission expenses.
(3) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission shall adopt rules:
(a) governing the manner in which applications for grants under Subsection (2) may be submitted to the commission; and
(b) establishing standards for awarding grants under Subsection (2) to organizations which promote amateur boxing in the state.
(4)
(a) For the purpose of creating a greater interest in contests in the state, the commission may exempt from the payment of license fees under this section one contest or exhibition in each calendar year, intended as a showcase event.
(b) The commission shall select the contest or exhibition to be exempted based on factors which include:
(i) attraction of the optimum number of spectators;
(ii) costs of promoting and producing the contest or exhibition;
(iii) ticket pricing;
(iv) committed promotions and advertising of the contest or exhibition;
(v) rankings and quality of the contestants; and
(vi) committed television and other media coverage of the contest or exhibition.