NC S943

Increases the administrative expense retention rate for Martin County from 3% to 6% on the first $500,000 of gross occupancy tax proceeds collected annually.

Maintains the 1% administrative retention rate on gross receipts exceeding $500,000 each year.

Allows Martin County to retain a larger portion of occupancy tax revenue for administrative and collection costs before distributing net proceeds to the Martin County Tourism Development Authority.

Requires the Tourism Development Authority to continue using at least two-thirds of distributed funds to promote travel and tourism in Martin County, with the remainder for tourism-related expenditures.

Effective upon becoming law.