§ 68-129. Use of funds; reports to department of community affairs.

(a)

Use of funds. The city shall, in each fiscal year beginning on or after July 1, 1987, expend an amount equal to not less than 50 percent of the total amount of taxes collected that exceed the amount of taxes that would be collected at the rate of five percent for promoting tourism, conventions, and trade shows by the destination marketing organization levying the tax. This amount may not be less than the percentage of such tax collections expended for such purposes during the immediately preceding fiscal year. The remaining amount of taxes collected that exceed the amount of taxes that would be collected at the rate of five percent which are not otherwise expended as set forth herein shall be expended for tourism product development.

In addition, if during such immediately preceding fiscal year any portion of such tax receipts was expended for such purposes through a grant to or a contract or contracts with the state, a department of state government, a state authority or a private sector nonprofit organization, then in each fiscal year beginning on or after July 1, 1987, at least the same percentage shall be expended through a contract or contracts with one or more such entities for the purpose of promoting tourism, conventions, and trade shows.

(b)

Reports to department of community affairs. The city shall, as a condition of continuing authorization to impose the tax as authorized by this article, annually file with the department of community affairs a report specifying the rate of taxation and amounts collected and expended pursuant to this article. Such report shall include the schedules specified under O.C.G.A. § 36-81-8(b)(1)(B) and shall be filed in such form and at such times as may be specified by rule of the department of community affairs.

(Ord. No. 19-2006, § 1, 10-9-06; Ord. No. 10-2008, § 4(Exh. D), 9-22-08)

State law reference

Similar provisions, O.C.G.A. §§ 48-13-51(a)(2) and 48-13-56.