Swannanoa Valley TDA.

SB 132 creates the Swannanoa Valley Tourism Development Authority (TDA) to manage tourism funding for Buncombe County’s Swannanoa Valley (encompassing Broad River, Black Mountain, and Swannanoa townships). It directs that a portion of the room occupancy tax collected in these areas be remitted to the TDA instead of the county’s general tourism fund. The TDA will allocate these funds into two programs: one for tourism infrastructure projects (like hotel upgrades or attractions) and another for community-focused initiatives (such as natural resource enhancement), both requiring projects to boost lodging patronage and benefit residents. The bill prohibits using funds for operational costs, mandates industry-led committee reviews for project approval, and explicitly excludes for-profit entities from receiving grants.