Bill > S73

This bill authorizes the Town of Richlands to levy a room occupancy tax of up to 3% on gross receipts from accommodations that are subject to state sales tax. The tax would be collected in addition to existing state and local sales taxes. The town will be required to remit the net proceeds (after administrative costs) quarterly to a newly created Tourism Development Authority. The Authority must use at least two-thirds of the funds to promote travel and tourism, with the remaining funds allocated to tourism-related expenditures. The bill also establishes the structure and governance of this Tourism Development Authority, specifying that its membership must include at least one-third representatives from businesses collecting the tax and at least half members actively involved in promoting travel and tourism. The Authority will be responsible for using the tax revenue to attract tourists and business travelers, and will be required to provide quarterly and annual financial reports to the Town of Richlands Board of Aldermen. The bill amends existing state law to include Richlands in the list of municipalities authorized to levy such a tax, and becomes effective immediately upon becoming law.

Budget and Finance

https://www.ncleg.gov/BillLookUp/2025/S73