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MS HB1722

Bill

Official Source

Status

Failed

5/14/2024

Primary Sponsor

Jody Steverson

Click for details

Origin

House of Representatives

2024 Regular Session

AI Summary

  • Authorizes the Town of Walnut, Mississippi to levy a special tax of up to 3% on gross room rental proceeds from hotels and motels and up to 3% on gross sales proceeds from restaurants
  • Combined tax rate from all sources (state sales tax, town tax, and county tax) cannot exceed 10% for either hotels/motels or restaurants
  • Requires voter approval by 60% of qualified electors voting in favor before the special tax can be levied
  • Revenues must be dedicated solely to promoting, constructing, financing, operating, maintaining, and equipping parks and recreation facilities, and paying debt service on related bonds or indebtedness
  • Special tax authorization expires July 1, 2034, allowing time to service any outstanding debt issued under the act

Legislative Description

Town of Walnut; authorize tax on hotels/motels, restaurants for parks and recreational facilities.

Last Action

Died On Calendar

5/14/2024

Committee Referrals

Local and Private Legislation2/19/2024

Full Bill Text

No bill text available