NC S255

Repeals the current county-wide occupancy tax in Iredell County under Part IV of Chapter 570 of the 1985 Session Laws.

Creates Iredell County District I as a taxing district comprised of unincorporated areas of Iredell County, with the County Board of Commissioners serving as its governing body.

Authorizes Iredell County District I to levy a room occupancy tax of up to 6% on gross receipts from hotel, motel, inn, and similar lodging rentals subject to state sales tax.

Establishes the Iredell County District I Tourism Development Authority to receive quarterly net proceeds from the occupancy tax, requiring at least two-thirds of funds be used for travel and tourism promotion and the remainder for tourism-related expenditures.

Repeals the current occupancy tax when the governing body adopts a resolution levying the new district occupancy tax; the remainder of the act takes effect when it becomes law.