Section 32B-1-208 - Percentage lease agreements(1) As used in this section:(a) "Percentage lease agreement" means a lease agreement in which the lessee: (i) is a retail licensee; and(b) "Percentage rent" means a percentage:(i) agreed upon between a lessor and lessee; and(ii) of the total sales revenue that:(A) exceed a fixed dollar amount of sales revenue; and(B) the lessee earns while doing business on the rental premises.(2)(a) The parties to a percentage lease agreement shall submit a copy of the percentage lease agreement to the department.(b) If there is a material change to the percentage lease agreement submitted to the department under Subsection (2)(a), the parties to the percentage lease agreement shall promptly submit a copy of the changed percentage lease agreement to the department.(3) If a percentage lease agreement requires a retail licensee to pay the lessor a percentage rent of 6% or less, the department may not conduct any further investigation into the percentage lease agreement.(4) The commission shall make rules in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, establishing:(a) the maximum percentage of revenue from alcohol sales a percentage lease agreement may require; and(b) the procedure for submitting a percentage lease agreement under Subsection (2).(5)(a) The provisions of this section do not apply to a percentage lease agreement in which the lessee is an airport lounge licensee.(b) Nothing in this title prohibits an airport lounge licensee from entering into a percentage lease agreement, regardless of the percentage rent specified in the percentage lease agreement.Amended by Chapter 3, 2020SP5 General Session ,§ 2, eff. 6/25/2020.Added by Chapter 219, 2020 General Session ,§ 4, eff. 5/12/2020.