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MS SB2944
Bill
AI Summary
- Extends the repeal date for the Town of Florence's tax on bars and restaurants from a previous deadline to December 31, 2025
- Authorizes Florence to levy up to 2% tax on gross proceeds from bars and restaurants, with revenue dedicated to economic development and recreational facilities
- Tax collection is administered by the Department of Revenue using state sales tax procedures, with 3% of proceeds retained for collection costs
- Proceeds must be kept in separate accounting from general funds and audited annually by an independent certified public accountant
- Tax expires on the earlier of December 31, 2025, or within 2 months after recreational facilities are completed and all related debt is paid or fully reserved
Legislative Description
City of Florence; extend repeal date on tax on bars and restaurants.
Last Action
Died In Committee
5/3/2012
Full Bill Text
No bill text available