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MS HB1655

Bill

Official Source

Status

Failed

4/1/2015

Primary Sponsor

Alex Monsour

Click for details

Origin

House of Representatives

2015 Regular Session

AI Summary

  • Authorizes City of Vicksburg governing authorities to levy up to 2% sales tax on gross proceeds from hotel and motel room rentals and restaurant sales
  • Requires approval by referendum with 60% voter support before tax can be implemented, with notice published for at least 3 consecutive weeks before the election
  • Tax proceeds (minus 3% collection fee retained by Department of Revenue) must be dedicated solely to acquiring property, constructing, equipping, and maintaining recreation and tourism facilities
  • Authorizes city to issue general obligation bonds for recreation and tourism projects funded by the special sales tax, exempt from normal debt limitations
  • Authorizes city to lease city-owned property for up to 20 years at nominal fee for construction of a sports complex, with option to lease property back and eventual city ownership
  • Act repeals July 1, 2018

Legislative Description

City of Vicksburg; authorize tax on hotels, motels and restaurants for recreation and tourism venues and facilities.

Last Action

Died In Committee

4/1/2015

Committee Referrals

Local and Private3/28/2015
Local and Private Legislation3/3/2015

Full Bill Text

No bill text available