NC S318

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 must be remitted monthly to the Haywood County Tourism Development Authority to establish a Tourism Product Development Fund for financing tourism-related capital projects that benefit lodging facilities in the county.

Creates an 11-member Product Development Committee with one representative per zip code, plus additional weighted representatives from zip codes contributing over 10% of total taxes collected, to review and recommend capital project proposals to the Authority.

Limits Authority administrative expenses to 5% of net proceeds and requires administration costs not to exceed 1% of gross collections; exempts accommodations provided by nonprofit charitable, educational, or religious organizations.

Bill becomes effective upon enactment and expires July 1, 2023; Haywood County must also levy taxes authorized under specified previous session laws to implement this tax.