Bill > S2500

This bill establishes a dedicated fund in the city of New Bedford, called the Arts, Culture and Tourism Promotion Fund, to support the city's artistic and cultural initiatives and attract visitors. The fund will be financed by a portion of the local room occupancy tax, which is a tax on hotel stays, and can also receive grants, gifts, or donations. Specifically, the city can deposit up to 50% of its local room occupancy tax revenue into the fund annually, with a cap of $100,000 in the first year, and subsequent allocations adjusted based on inflation using the Consumer Price Index. While the fund can be used to promote the city's arts and culture and tourism, it cannot be used to pay for personnel costs within the city's tourism and marketing department. The city's chief financial officer will be responsible for reporting on the fund's status to the mayor and city council.