NC S749

Extends the deadline for the Hickory-Conover Tourism Development Authority to use occupancy tax funds for convention center improvements from December 31, 2029 to December 31, 2039.

Allows the Authority to allocate two-thirds of remitted occupancy tax funds through December 31, 2039 for improving, leasing, constructing, financing, operating, or acquiring convention center facilities and parking facilities.

Requires debt issued to finance convention center improvements and secured by occupancy tax proceeds to mature on or before December 31, 2039.

After December 31, 2039, the Authority must use at least two-thirds of remitted funds to promote travel and tourism in the area and the remainder for tourism-related expenditures.

Act applies the same occupancy tax changes to both the City of Hickory and the City of Conover.