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MS SB3264
Bill
AI Summary
- Extends the repealer date from July 1, 2026 to July 1, 2029 for the City of Olive Branch's authorization to levy a 1% tax on gross proceeds from hotel and motel room rentals
- Tax proceeds, less 3% retained by the Department of Revenue for collection costs, must be dedicated solely to tourism and parks and recreation purposes
- Requires a 60% voter approval threshold in a citywide election before the tax can be imposed, with notice published for at least 3 consecutive weeks before the election
- Authorizes the City of Olive Branch to issue general obligation bonds for tourism and parks improvements, with debt service funded by the hotel/motel tax proceeds and not subject to the city's debt limitation
- Tax collection is administered through the Department of Revenue following state sales tax procedures, with separate accounting and annual independent audits required
Legislative Description
City of Olive Branch; extend repealer on 1% hotel/motel tax and issuance of bonds for tourism and parks and recreation.
Last Action
Approved by Governor
4/2/2025
Committee Referrals
Local and Private Legislation3/13/2025
Local and Private3/4/2025
Full Bill Text
No bill text available