MS SB3085

Authorizes the City of Meridian to levy an occupancy tax of $5.75 per night on hotel and motel rooms (six or more rooms) within city limits, subject to voter approval by 60% of qualified electors at a special election.

Tax revenues are dedicated solely to developing a sports complex, including purchasing property, construction, equipment, operations, infrastructure improvements, and debt service on bonds issued for these purposes.

Establishes the Meridian-Lauderdale Sports Commission with five voting members (three appointed by the mayor with city council consent, two appointed by the county board president with board consent) to facilitate development and management of the sports complex.

Authorizes the city to issue bonds for sports complex development, with principal and interest payable solely from occupancy tax revenues, and permits lease or management agreements with developers for up to 75 years.

Tax automatically repeals on the earlier of: the date when bond principal, interest, and premiums are fully paid, or 20 years from the tax's effective date.