NC S162

Authorizes Yancey County Board of Commissioners to levy an additional room occupancy tax of up to 3% of gross receipts from rental accommodations, in addition to the existing 3% tax already authorized, for a potential maximum combined rate of 6%.

Requires Yancey County to establish a Tourism Development Authority as a public authority under the Local Government Budget and Fiscal Control Act, with at least one-third of members affiliated with tax-collecting businesses and at least one-half active in travel and tourism promotion.

Mandates the Authority use at least two-thirds of net tax proceeds to promote travel and tourism, with remaining funds for tourism-related expenditures including advertising, marketing, conventions, and capital improvements.

Allows administrative costs to be deducted from tax proceeds up to 3% of the first $500,000 collected annually and 1% of remaining collections each year.

Applies G.S. 153A-155 provisions regarding penalty and administration procedures to the Yancey County tax, and makes the act effective upon enactment.