Bill Summary for H 490 (2015-2016)
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Summary date:
Jul 30 2015
Bill Information:
View NCGA Bill Details | 2015-2016 Session |
AN ACT TO AUTHORIZE THE CITY OF SANFORD TO LEVY AN OCCUPANCY TAX.Intro. by
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Bill summary
House committee substitute makes the following changes to the 1st edition.
Removes a sentence exempting from the occupancy tax accommodations furnished by nonprofit charitable, educational, or religious organizations.
Requires the Sanford Tourism Development Authority to use 100% of funds raised by the occupancy tax to promote tourism and travel in Sanford and removes provision authorizing the authority to finance tourist-related capital projects. The 1st edition required the authority to spend two-thirds of the funds to promote travel and tourism and the remainder for tourism-related expenditures, which the 1st definition defined as expenditures that increase the use of lodging and convention facilities, including capital expenditures.