MS HB1586

Authorizes the Town of Como governing authorities to levy a tax on hotels and motels at up to $1.00 per night per occupied room and on restaurants at up to 2% of gross food and beverage sales proceeds.

Tax revenue, minus 3% retained by the Department of Revenue for collection costs, must be dedicated solely to promoting tourism and parks and recreation in Como and the immediate surrounding area.

Requires the governing authorities to adopt a resolution, publish notice for at least three consecutive weeks, and hold an election where at least 60% of qualified voters must approve the tax before it can be imposed.

Requires separate accounting and annual independent audits of tax receipts and expenditures, with audit expenses paid from the tax fund.

All provisions of the act expire on July 1, 2017.