MS HB131

Creates the Tourism Development and Support Fund to be administered by the Tunica County Tourism Commission in consultation with the Mississippi Development Authority and Board of Supervisors.

Fund proceeds may be expended on projects that encourage new tourism products, economic diversification, grants to private industries, and matching funds for state or federal grants related to tourism and economic development.

All expenditures from the Tourism Development and Support Fund require approval from both the Executive Director of the Mississippi Development Authority and the Board of Supervisors of Tunica County.

Tourism tax revenue (up to 3% of hotel/motel room rentals and up to 3% of restaurant and bar sales) collected by the Department of Revenue is dedicated to the commission, minus 3% retained for collection costs.

Fund may also be pledged to secure debt issued for tourism development and economic growth purposes in Tunica County.