MS SB2986

Authorizes the City of Olive Branch to levy a tax of up to 1% on gross proceeds from hotel and motel room rentals, with funds dedicated to tourism and parks and recreation.

Applies to hotels and motels with six or more guest rooms; excludes hospitals, convalescent homes, and medical facilities.

Requires a local election where 60% of qualified voters must approve the tax before it can be implemented.

Mandates separate accounting of tax revenues from general funds with annual independent audits of receipts and expenditures.

Automatically repeals on July 1, 2024, unless extended by legislative action.