HB0459 - Tennessee: Taxes, Hotel Motel

Taxes, Hotel Motel - Requires the proceeds from any increase in an existing occupancy tax and the proceeds of any new tax be used in the direct promotion of tourism, that being an expenditure of funds reasonably directed at generating overnight stays at hotels located within the taxing jurisdiction. - Amends TCA Title 67, Chapter 4, Part 14.

Other Fiscal Impact - The provisions of the bill will earmark new revenues from any hotel/motel tax, if such revenues are derived from the implementation of a new tax or an increase in an existing tax, for the promotion of tourism. Current revenues and any new revenue attributable to increased sales would be unchanged. The amount of revenues earmarked for tourism in the future will depend on the number and size of local governments choosing to adopt such a tax or raise an existing tax.