MS SB2988

Extends the repeal date for the City of Flowood's hotel and motel room rental tax from July 1, 2017 to July 1, 2029, allowing continued tax collection for conference center development and debt repayment.

Increases the authorized tax rate on gross proceeds of hotel and motel room sales from 2% to 3% in the City of Flowood.

Authorizes the city to incur debt up to $20,000,000 for acquiring, constructing, improving, furnishing, and equipping a conference center and related facilities.

Tax revenue must be deposited in a separate special fund and used exclusively for conference center project costs and debt service, with annual independent audits required.

Election approval is required before the tax may be imposed, with 60% of qualified voters in favor needed to authorize the levy.