MS SB2518

Extends the repeal date of the tourism and industry promotion tax in Batesville, Mississippi from July 1, 2023 to July 1, 2027.

Authorizes the City of Batesville to levy a tax on hotel and motel room rentals at a rate up to 3% of gross proceeds and on restaurant sales at a rate up to 3% of gross proceeds.

Tax revenue, minus 3% retained by the Department of Revenue for collection costs, must be dedicated solely to programs and activities that promote tourism, industry, and economic development in the city and surrounding area.

Requires separate accounting and annual independent audits of tax funds, with audit expenses paid from the tax revenue.

Establishes procedures for imposing or increasing the tax, including publication of notice and potential voter approval if sufficient electors file written petitions against the levy.