Localities; restricts authority to impose transient occupancy tax at rate that exceeds five percent.

Local taxing authority. Restricts localitiesfrom imposing a transient occupancy tax at a rate that exceeds fivepercent and provides that any tax revenues from a rate of greater than two percent but less than five percent shall be spent solelyfor tourism-related and travel-related purposes. The bill also lowersthe amount of food and beverage tax that counties can impose fromsix percent to a total of four percent. Under the bill, a county is able to impose a food and beverage tax at up to two percent without restriction, but that would require approval via a referendum inorder to impose the tax at four percent.