MS SB2891

Extends the repeal date of the City of Baldwyn's authority to levy taxes on hotel/motel room rentals and restaurant/convenience store food sales from July 1, 2023 to July 1, 2027.

Maintains existing tax rates at a maximum of 2% on gross proceeds from hotel/motel room rentals and 2% on restaurant/convenience store prepared food sales.

Requires tax revenues to be dedicated solely to promoting tourism and encouraging retired persons to remain in or relocate to the Baldwyn area.

Mandates separate accounting and annual independent audits of tax revenues, with expenses paid from the collected funds.

Requires the Department of Revenue to retain 3% of collected proceeds to defray collection costs before remitting remaining funds to the city by the fifteenth of the following month.