MS HB1723

Authorizes the Town of Como governing authorities to levy a tax of up to $1.00 per occupied hotel or motel room per night and up to 2% on gross proceeds from restaurant food and beverage sales.

Tax revenue must be dedicated solely to promoting tourism and parks and recreation in the Town of Como and surrounding area, kept separate from general fund accounting.

State Tax Commission collects the tax and remits proceeds to the town by the 15th of the following month, retaining 3% to cover collection costs.

Tax requires voter approval through local election with 60% affirmative vote by qualified electors before implementation; town must publish notice weekly for three consecutive weeks before election.

Provisions automatically repeal on July 1, 2013, and require separate annual audit by independent certified public accountant.