(1) The office shall include the following information in the office's annual written report described in Section 63N-1-301: (a) the state's success in attracting new conventions and corresponding new state revenue; (b) the estimated amount of convention incentive commitments and the associated calculation made by the office and the period of time over which convention incentives are expected to be paid; (c) the economic impact on the state related to generating new state revenue and providing convention incentives; and (d) the estimated and actual costs and economic benefits of the convention incentive commitments that the office made.

(a) the state's success in attracting new conventions and corresponding new state revenue;

(b) the estimated amount of convention incentive commitments and the associated calculation made by the office and the period of time over which convention incentives are expected to be paid;

(c) the economic impact on the state related to generating new state revenue and providing convention incentives; and

(d) the estimated and actual costs and economic benefits of the convention incentive commitments that the office made.

(2) Upon the commencement of the construction of a qualified hotel, the office shall send a written notice to the Division of Finance: (a) referring to the two annual deposits required under Subsection 59-12-103(11); and (b) notifying the Division of Finance that construction on the qualified hotel has begun.

(a) referring to the two annual deposits required under Subsection 59-12-103(11); and

(b) notifying the Division of Finance that construction on the qualified hotel has begun.