Richlands Occupancy Tax Authorization.

SB 73 authorizes the Town of Richlands to impose a 3% occupancy tax on hotel and short-term rental stays, in addition to existing state and local sales taxes. The tax revenue must be sent quarterly to the Richlands Tourism Development Authority, which is required to spend at least two-thirds promoting tourism (e.g., advertising, marketing) and the remainder on tourism-related projects like facility improvements. The bill also establishes the Tourism Development Authority with specific membership rules, including at least one-third of members from tourism businesses and half from tourism promotion roles. It mandates quarterly financial reports to the town council on how funds are allocated.