Bill Summary for S 749 (2021-2022)
May 18 2022
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AN ACT TO MAKE VARIOUS OCCUPANCY TAX CHANGES AFFECTING THE CITIES OF HICKORY AND CONOVER.Intro. by Proctor.
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Amends Sections 1 and 3 of SL 2009-169, which set parameters for the use of occupancy tax proceeds remitted by the Cities of Hickory and Conover to each city's respective tourism development authority (TDA). Extends the date through which each TDA is authorized to use two-thirds of the funds remitted for the purpose of improving, leasing, constructing, financing, operating or acquiring facilities and properties needed to provide for a convention center facility, from December 31, 2029, to December 31, 2039. Makes conforming changes.