NC S140

Town of Lake Santeetlah authorized to levy a room occupancy tax of up to 3% on gross receipts from rental accommodations subject to state sales tax, in addition to existing state and local sales taxes.

Town must remit net proceeds (gross proceeds minus up to 3% administrative costs for first $500,000 annually and 1% thereafter) quarterly to the Lake Santeetlah Tourism Development Authority.

Tourism Development Authority must allocate at least two-thirds of funds to promote travel and tourism in the town and remainder to tourism-related expenditures and capital projects.

Town Council must create the Tourism Development Authority with membership including at least one-third individuals affiliated with tax-collecting businesses and at least one-half individuals active in promoting travel and tourism.

Law effective upon passage and adds Lake Santeetlah to the list of municipalities subject to G.S. 160A-215 occupancy tax administration provisions.