S.L. 2014-68 (Senate Bill 846) Summary

• Removes five tracts of land totaling approximately 169 acres from the corporate limits of the Town of Shallotte, effective July 31, 2014.

• Preserves the Town of Shallotte's ability to collect and foreclose on any ad valorem tax liens or special assessments on the removed properties that were outstanding before the effective date.

• Clarifies that the Southport Tourism Development Authority only receives room occupancy tax proceeds after the Southport Board of Aldermen formally adopts a resolution levying the tax.

• Requires the Tourism Development Authority to use at least two-thirds of remitted occupancy tax funds to promote travel and tourism in Southport and the remainder for tourism-related expenditures.

• Defines net proceeds as gross proceeds minus collection and administration costs (up to 3% of first $500,000 annually and 1% of remaining gross receipts).