MS HB1580

Extends the repeal date of Chapter 939, Local and Private Laws of 1998 (as amended) from December 31, 2016, to December 31, 2020.

The law authorizes the City of Florence to impose a tax of up to 2% on gross proceeds of bar sales and up to 2% on beer, alcoholic beverages, and prepared food sales at restaurants.

Tax revenue is dedicated solely to economic development and recreational facilities, with 3% of proceeds retained by the Department of Revenue for collection costs.

Repeal may occur earlier than December 31, 2020, if recreational facilities are completed and all related bonds or borrowings are fully paid or funds are set aside to pay them.

This act takes effect upon passage.