Amends SL 1987-142, as amended, to require Averasboro to remit occupancy tax proceeds to the Averasboro Township Tourism Development Authority (Authority) on a monthly (was, quarterly) basis. Expands Authority membership from seven to nine members as described, and removes the one-year term limitation. Amends chair and co-chair designations, meeting times, and naming of the ex officio finance officer. Expands on the Authority’s duties. Applies to the distribution of the occupancy tax proceeds on or after the earlier of October 1, 2012, or the date specified in a resolution adopted under the act.