NC S918

Expands permissible uses of occupancy tax proceeds remitted to Durham Convention and Visitors Bureau to include "tourism-related expenditures" and retiring debt incurred to finance tourism-related expenditures, in addition to promoting travel and tourism.

Modifies Section 9(c) of S.L. 2001-480 regarding the additional 2% occupancy tax to allow the Bureau to use funds for tourism-related expenditures and debt retirement for tourism projects.

Modifies Section 9(e) regarding the additional 1% occupancy tax to similarly allow excess net proceeds to be used for tourism-related expenditures and to retire debt incurred to finance tourism-related expenditures.

Takes effect upon becoming law.