MS SB2119

Extends the repeal date of Chapter 1016, Local and Private Laws of 2004 from July 1, 2020 to July 1, 2024, allowing Pontotoc to continue levying taxes on hotels, motels, and restaurants.

Authorizes Pontotoc's governing authorities to impose a tax not exceeding 2% on gross room rental proceeds from hotels and motels with six or more guest rooms.

Authorizes Pontotoc's governing authorities to impose a tax not exceeding 2% on gross sales proceeds from restaurants and food service businesses.

Requires tax proceeds, less 3% retained by the Department of Revenue for collection costs, to be dedicated solely to promoting tourism and parks and recreation.

Requires separate accounting and annual independent audits of the dedicated tax fund, with audit expenses paid from the collected revenues.