HB 345 AN ACT relating to resources for local development

About HB-345

Create a new section of KRS Chapter 65 to define "base restaurant tax receipts" and "merged governments"; grant any city, county, or merged government the right to levy a restaurant tax, subject to certain limitations; allow cities, counties, and merged governments levying a restaurant tax after the effective date to distribute at least 25% of revenues generated to the tourist and convention commission, the remainder to be used to create or support infrastructure supporting tourism; make provisions for cities that levied the restaurant tax prior to the effective date to distribute restaurant tax revenues; establish passage and accounting procedures for the levying of the restaurant tax; deal with surpluses; permit uses of unexpended funds; prohibit the subsidy of any private concern; create an offset for restaurants that have both a city and a county government levying the tax; exempt restaurants subject to the tax from certain local occupational license taxes; mandate that any new tax or rate take effect at the beginning of any calendar month; repeal KRS 91A.400; amend KRS 67.938 and 91A.390 to conform.