NC H239

Authorizes the Town of North Topsail Beach Board of Aldermen to levy an additional one percent (1%) room occupancy tax on rental of accommodations in addition to the existing tax authorized under current law.

Proceeds from the additional tax must be spent specifically for the nonfederal partner match requirement for a beach renourishment qualifying project with the U.S. Army Corps of Engineers.

The town may only levy the additional tax if it also levies the existing occupancy tax authorized under prior law.

The authority to levy the additional tax automatically repeals when the nonfederal partner match requirement for the beach renourishment project ceases.

The qualifying project is estimated to cost approximately $900,000,000, consist of six renourishment cycles over approximately 50 years, with the town responsible for a portion of the nonfederal match requirement.