MS SB3024

Extends the repeal date of the Grenada Tourism Commission and associated tourism tax provisions from September 30, 2018, to September 30, 2022.

The Grenada Tourism Commission is authorized to promote tourism and conventions in the Grenada area, composed of seven members including representatives from restaurant and hotel associations, the Chamber of Commerce, and city-appointed members.

Authorizes the City of Grenada to impose a tourism tax of up to 2% on hotel and motel room rental gross proceeds and up to 1% on restaurant and bar gross receipts (for establishments with annual sales exceeding $100,000).

Requires tax revenue, minus 3% retained by the Department of Revenue for collection costs, to be dedicated solely to tourism promotion, with 50% placed in an interest-bearing escrow fund for convention center construction and operation.

Commission books must be audited annually by an independent certified public accountant, with audit reports submitted to the City of Grenada within 15 days of receipt.