MS HB1540

Authorizes the Town of Coffeeville, Mississippi to levy a tax of up to 2% on gross proceeds of restaurant sales for tourism and parks and recreation funding.

Requires the governing authorities to adopt a resolution and hold a public election where at least 60% of qualified electors must vote in favor of the tax before it can be imposed.

Mandates publication of election notice in a newspaper for at least three consecutive weeks, with first notice no less than 21 days before the election and last notice no more than seven days before.

Requires the Department of Revenue to collect the tax using the same process as state sales taxes, with revenue paid to the town by the 15th of the following month after collection.

Repeals the act effective July 1, 2027, and requires separate accounting and annual independent audits of tax revenue that must be expended only for stated purposes.