MS SB3216

Authorizes the Town of Walnut, Mississippi to levy a special tax of up to 3% on gross proceeds from hotel and motel room rentals and up to 3% on gross proceeds from restaurant sales.

Combined tax rates on hotels/motels and restaurants cannot exceed 10% when added to state sales tax and other local taxes levied by the town or Tippah County.

Requires a referendum where at least 60% of qualified voters must approve the special tax before it can be levied.

Allows the town to issue bonds or incur debt for parks and recreation facilities, with debt service paid from special tax proceeds, and exempts such bonds from state taxation and standard debt limitations.

Authorizes the town to lease property for up to 20 years at nominal fees for construction and operation of sports and recreational facilities, then lease the property back before owning it outright.