MS SB2926

Authorizes the City of Vicksburg to levy an additional sales tax of up to 2% on hotel and motel room rentals and up to 2% on restaurant gross sales proceeds, provided combined tax rates do not exceed 10% when including state and other local taxes.

Requires voter approval by 60% majority before the tax can be imposed, with notice published for at least 3 consecutive weeks prior to the election.

Dedicates tax proceeds (less 3% retained by Department of Revenue for collection costs) exclusively to acquiring property, constructing, equipping, and maintaining recreation and tourism facilities.

Authorizes the city to issue general obligation bonds for up to 20 years to fund recreation and tourism projects, with debt service supported by the special sales tax revenues, and exempts these bonds from state taxation and indebtedness limitations.

Permits the city to lease city-owned property for up to 20 years at nominal cost for sports complex construction, with option to lease the facility back at negotiated rates until the city owns it free and clear; authorizes separate accounting and annual audits of fund receipts and expenditures.