MS HB1423

Authorizes the City of Lexington, Mississippi governing authorities to levy a tax of up to 2% on the gross proceeds of restaurant sales for tourism and parks and recreation.

Requires the governing authorities to adopt a resolution and hold a public election where at least 60% of qualified electors voting must approve the tax.

Mandates publication of election notice in a newspaper for three consecutive weeks, with first publication at least 21 days before the election and last publication no more than 7 days before.

Requires the Department of Revenue to collect the tax using state sales tax procedures, with collected revenue paid to the city monthly and maintained in a separate special fund apart from the general fund.

Establishes an annual independent audit requirement for tax revenue and expenditures, and repeals the tax authority on July 1, 2023.