NC H307

Authorizes Haywood County Board of Commissioners to levy a room occupancy tax of up to 2% on gross receipts from hotel, motel, inn, and similar lodging rentals subject to state sales tax.

Tax revenue is remitted monthly to the Haywood County Tourism Development Authority to fund a Tourism Product Development Fund for tourism-related capital projects that benefit lodging facility patronage.

Creates an 11-member Product Development Committee with representation weighted by zip code and tax contribution; committee reviews project proposals and recommends funding to the Authority, which may award grants only for projects meeting economic feasibility requirements.

Authority may use no more than 5% of net proceeds for administrative expenses; county administration costs capped at 1% of gross proceeds; unspent funds do not revert at fiscal year end.

Legislation becomes effective upon passage and expires July 1, 2023.