MS HB1958

Authorizes the City of Water Valley to levy a 1% tax on gross proceeds of restaurant sales, in addition to all other taxes, for promoting tourism and parks and recreation.

Requires restaurants to add the tax to sales prices and collect it from customers at the time of purchase.

Mandates an election where 60% of qualified city electors voting must approve the tax; the city must publish notice once weekly for at least 3 consecutive weeks, with first notice at least 21 days before the election.

Requires the Department of Revenue to collect and enforce the tax using state sales tax procedures, with revenue paid to the city monthly (minus any amount retained by the department) and placed in a separate special fund audited annually by an independent certified public accountant.

Automatically repeals on July 1, 2029.