MS HB1350

Extends the repeal date of the City of Ripley's hotel, motel, and restaurant tax from July 1, 2021, to October 1, 2026.

Authorizes Ripley's governing authorities to levy up to 2% tax on gross proceeds from hotel/motel room rentals and up to 2% tax on gross restaurant sales.

Tax revenue, after 3% retention by the Department of Revenue for collection costs, must be dedicated solely to tourism promotion, encouraging retired persons to relocate to the area, industrial and economic development, and parks and recreation facilities.

Requires separate accounting of tax receipts and expenditures from the general fund, with annual independent audits by a certified public accountant.

Tax may only be imposed after governing authorities adopt a resolution and 60% of qualified city electors vote in favor at a public election, with notice published for at least three weeks prior.