MS HB1628

Authorizes the City of Flowood, Mississippi to levy a 3% tax on gross proceeds from hotel and motel room sales to finance a conference center

Permits the city to incur debt up to $20,000,000 for acquisition, construction, improvement, furnishing, and equipping of the conference center and related facilities

Bonds issued under this act may mature up to 30 years from their date and are exempt from state income taxation

Tax revenues must be placed in a special fund separate from general fund revenues, with proceeds paid to the city by the 15th of each month following collection

The tax may be discontinued by resolution of the governing authority only when no bonds remain outstanding under this act