MS HB1447

Extends the repeal date of the Indianola Tourism Commission law from July 1, 2014 to July 1, 2017.

Authorizes the City of Indianola to levy up to 2% tax on hotel/motel room rental gross proceeds and up to 2% tax on restaurant/bar sales gross proceeds, with proceeds dedicated solely to tourism and economic development.

Establishes the Indianola Tourism Commission as a nine-member advisory board composed of representatives from five city wards, the Chamber of Commerce, B.B. King Museum Foundation, hotel/motel owners, and restaurant/bar owners.

Requires the governing authorities to declare their intention to continue the tax by resolution within 60 days of the bill's passage, with an indirect referendum process allowing qualified electors to petition for an election if 20% (or 1,500, whichever is less) file written protest.

Requires the Commission to adopt annual budgets subject to Mayor and Board of Aldermen approval and mandates annual independent audits submitted to the city and State Department of Audit.