NC S942

Authorizes the Town Council of Fontana Dam to levy a room occupancy tax of up to 3% on gross receipts from rental of rooms, lodging, or accommodations in hotels, motels, inns, and similar establishments subject to state sales tax.

Requires the town to remit net proceeds (gross proceeds minus up to 3% administrative costs on the first $500,000 collected annually and 1% on amounts above that) to the Fontana Dam Tourism Development Authority on a quarterly basis.

Mandates the Authority use at least two-thirds of funds to promote travel and tourism in the town and remainder for tourism-related expenditures including capital projects.

Requires creation of a Tourism Development Authority with membership including at least one-third affiliated with tax-collecting businesses and at least one-half active in tourism promotion, with quarterly and annual reporting requirements to the Town Council.

Adds Fontana Dam to the list of municipalities authorized to levy occupancy taxes under G.S. 160A-215 and makes the tax effective upon enactment.