NC H1059

Modifies the use of room occupancy and tourism development tax proceeds collected by New Hanover County District U, redirecting funds from beach nourishment to tourism-related expenditures.

Requires New Hanover County District U to remit previously collected tax proceeds (prior to July 1, 2014) to the Cape Fear Coast Convention and Visitors Bureau within 30 days, which shall use 100% of those funds for tourism-related expenditures.

Establishes quarterly remittance of tax proceeds collected on or after July 1, 2014 to the Convention and Visitors Bureau, with at least two-thirds used for tourism promotion and the remainder for other tourism-related expenditures in the district.

Eliminates the restriction preventing use of tax proceeds for beach nourishment outside the district boundaries.

Effective upon becoming law, ratified July 25, 2014.