MO HB1388

Allows a third-class city with 3,500-3,600 inhabitants to impose a tax of up to 5 percent per occupied hotel/motel room per night, in addition to all other charges and taxes.

Tax revenue must be used solely for economic development initiatives including construction, maintenance, and repair of a multipurpose conference and convention center.

Tax becomes effective only after voter approval at a state general, primary, or special election, taking effect the first day of the second calendar quarter following the election.

All tax revenue collected by the city collector of revenue is deposited in a special trust fund and may be invested with interest credited back to the fund.

Governing body may submit repeal questions to voters at any election date, or must submit repeal upon petition signed by 10 percent of registered voters from the last gubernatorial election.