Amends TCA Section 7-4-202.

This bill extends by six years the period in which Davidson County may charge an additional $0.50 privilege tax on the occupancy of a hotel room and in which such county may allocate the tax revenue for the purposes of direct promotion of tourism. This bill also extends by six years the terms of the committee members that oversee the fund in which the additional tax is deposited.<br /> <br /> Under present law, in addition to any other tax or fee imposed on the occupancy of a hotel room, Davidson County is authorized to levy a $2.50 privilege tax upon the occupancy of each hotel room within the territory of that metropolitan government. All revenues from this additional privilege tax must be deposited into a metropolitan government fund entitled "the convention center fund" and used to pay costs incurred in modification or construction of a publicly owned convention center in excess of $400 million in costs located within the territory of the metropolitan government. The revenues may also be used for the operation, promotion, management and marketing of such a convention center.<br /> <br /> Present law provides that all revenues received from the additional privilege tax and which exceed $2.00 must be deposited into a metropolitan government fund entitled "the event and marketing fund." For administrative purposes, the fund and the committee that approves expenditures are attached to a convention and visitors bureau by the council and the mayor. <br /> <br /> The fund is governed by a five-person committee and a chair who votes only to break a tie. The mayor appoints the committee and the chair. <br /> <br /> Expenditures from the fund may be used for the direct promotion of tourism. All expenditures are subject to the approval of the metropolitan government finance director. An audited financial statement must be supplied annually to the finance director and the council.<br /> <br /> The authority to charge the amount of the privilege tax imposed on hotel room occupancy in excess of $2.00 and the terms of the committee members are scheduled to expire May 21, 2010.<br /> <br /> This bill extends the authority to charge the amount of the privilege tax imposed on hotel room occupancy in excess of $2.00 and the terms of the committee members to May 21, 2026.<br /> <br />