Bill Text: MS SB2866 | 2022 | Regular Session | Introduced
Bill Title: Mississippi Telecommunication Conference and Training Facility funds; delete certain restrictions on expenditures.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2022-02-01 - Died In Committee [SB2866 Detail]
Download: Mississippi-2022-SB2866-Introduced.html
MISSISSIPPI LEGISLATURE
2022 Regular Session
To: Finance
By: Senator(s) Horhn
Senate Bill 2866
AN ACT TO AMEND SECTION 31-31-11, MISSISSIPPI CODE OF 1972, TO DELETE CERTAIN RESTRICTIONS ON AUTHORIZED EXPENDITURES WHICH MAY BE MADE FROM THE MISSISSIPPI TELECOMMUNICATION CONFERENCE AND TRAINING FACILITY/CONVENTION CENTER RESERVE FUND; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 31-31-11, Mississippi Code of 1972, is amended as follows:
31-31-11. (1) For the purpose of providing funds for the payment of a certain portion of the debt service on any bonds issued pursuant to this chapter and for the purpose of providing funds for the maintenance of the facility and renovations, improvements and additions to the facility, there is hereby levied, assessed and shall be collected from every person engaging in or doing business in the City of Jackson, Mississippi, as specified herein, a tax which may be cited as an "occupancy tax," which shall be in addition to all other taxes now imposed. Such tax shall be upon each hotel and motel located within the City of Jackson in the amount of Seventy-five Cents (75¢) per day for each occupied room.
(2) Persons liable for the tax imposed herein shall add the amount of tax to the price of rooms, and in addition thereto shall collect, insofar as practicable, the amount of the tax due by him from the person receiving the services or goods at the time of payment therefor.
(3) Such tax shall be
collected by and paid to the * * * Department of Revenue on
a form prescribed by the * * * State Tax Commission Department of Revenue, in the
same manner that state sales taxes are collected and paid; and the full enforcement
provisions and all other provisions of Chapter 65, Title 27, Mississippi Code
of 1972, shall apply as necessary to the implementation and administration of
this chapter.
(4) The proceeds of such
tax shall be deposited by the State Tax Commission into the reserve fund
created pursuant to subsection (5) of this section on or before the fifteenth
day of the month following the month in which collected by the * * * Department of Revenue.
(5) There is hereby created
in the State Treasury a special fund to be called the "Mississippi
Telecommunication Conference and Training Facility Reserve Fund." Money
in the fund at the end of a fiscal year shall not lapse into the General Fund
and interest earned on any amount deposited into the fund shall be credited to
the special fund. Money in the fund shall be used to pay a portion of the debt
service of the bonds issued pursuant to this chapter as specified in subsection
(6) of this section and to provide funds for the maintenance and operation of
the facility, including, but not limited to, the director and all other
personnel for operational purposes. * * *
(6) The amount of the debt service that shall be paid annually from the reserve fund shall be the amount of the debt service on bonds attributable to forty percent (40%) of the cost of constructing the facility and the amount of the debt service on bonds attributable to all land acquisition costs. Amounts remaining in the fund in any fiscal year after the payments required by this subsection for debt service, may be used by the commission to provide funds for the maintenance of the facility and renovations, improvements and additions to the facility.
(7) Before the taxes authorized by this chapter shall be imposed, the municipal governing authorities of the City of Jackson shall adopt a resolution declaring its intention to levy the tax, setting forth the amount of such tax and establishing the date on which this tax initially shall be levied and collected. This date shall be not less than the first day of the second month from the date of adoption of the resolution.
The resolution shall be published in a local newspaper at least twice during the period from the adoption of the resolution to the effective date of the taxation prescribed in this section, with the last publication being made no later than ten (10) days prior to the effective date of such taxation.
(8) The tax imposed pursuant to this section shall remain in force and effect until the City of Jackson shall by resolution rescind the tax; provided, however, that the tax imposed pursuant to this section shall not be rescinded if any bonds issued pursuant to this chapter remain outstanding.
SECTION 2. This act shall take effect and be in force from and after July 1, 2022.
