MS HB1473

Extends the repeal date of Chapter 913, Local and Private Laws of 2014, from July 1, 2017, to July 1, 2021, allowing Senatobia to continue levying taxes on hotels, motels, and restaurants.

Authorizes Senatobia's governing authorities to impose a tax up to 2% on gross proceeds from hotel and motel room rentals and up to 2% on restaurant sales.

Tax revenues, minus 3% retained by the Department of Revenue for collection costs, must be dedicated solely to parks, recreation, and tourism development.

Requires separate accounting and annual independent audits of tax revenues, which cannot be counted as general fund revenues.

Imposes a 60% approval requirement from qualified city electors voting in a referendum before the tax can be implemented.