A BILL TO BE ENTITLED
AN ACT to modify the amount of the martin county occupancy tax Revenue that may be retained by the county for administrative expenses.
The General Assembly of North Carolina enacts:
SECTION 1.  Section 1(e) of Chapter 80 of the 1991 Session Laws, as rewritten by S.L. 2006‑127, reads as rewritten:
"(e)	Distribution and Use of Tax Revenue. – Martin County shall, on a quarterly basis, remit the net proceeds of the occupancy tax to the Martin County Tourism Development Authority. The Authority shall use at least two‑thirds of the funds remitted to it under this subsection to promote travel and tourism in Martin County and shall use the remainder for tourism‑related expenditures.
The following definitions apply in this act:
(1)	Net proceeds. – Gross proceeds less the cost to the county of administering and collecting the tax, as determined by the finance officer, not to exceed six percent (6%) of the first five hundred thousand dollars ($500,000) of gross proceeds collected each year and one percent (1%) of the remaining gross receipts collected each year.
…."
SECTION 2.  This act is effective when it becomes law.