MS HB1425

Extends the repeal date of the City of Fulton's hotel and motel room rental tax from July 1, 2020, to July 1, 2024.

Authorizes Fulton to impose a tax not exceeding 3% on gross proceeds from hotel and motel room rentals, with funds dedicated to promoting tourism, parks, and recreation.

Requires the governing authorities to adopt a resolution, publish notice for at least three consecutive weeks, and hold an election where 60% of qualified electors must vote in favor of the tax.

Mandates separate accounting for tax revenues from the general fund and requires annual independent audits of receipts and expenditures.

The Mississippi Department of Revenue collects the tax, retains 3% for collection costs, and pays remaining proceeds to the city by the 15th of the following month.