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2004 SESSION

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041408840
SENATE BILL NO. 367 Offered January 14, 2004 Prefiled January 14, 2004 A BILL to amend the Code of Virginia by adding in Article 6 of Chapter 38 of Title 58.1 a section numbered 58.1-3824, relating to an additional transient occupancy tax in certain counties and cities. ---------- Patrons-- Watkins; Delegate: O'Bannon ---------- Referred to Committee on Finance ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Article 6 of Chapter 38 of Title 58.1 a section numbered 58.1-3824 as follows:

§ 58.1-3824. Additional transient occupancy tax in certain counties and cities.

In addition to such transient occupancy taxes as are authorized by this chapter, any two or more contiguous counties and cities may impose an additional transient occupancy tax not to exceed one percent of the amount of charge for the occupancy of any room or space occupied, provided that the local governing body appropriates the revenues collected from such tax as follows:

1. Seventy percent of such revenues shall be designated and appropriated for debt service for a performing arts center; and

2. Thirty percent of such revenues shall be designated and appropriated to advertise, promote or provide incentives to attract convention business to the region.

The tax imposed hereunder shall not apply to rooms or spaces rented and continuously occupied by the same individual or same group of individuals for 30 or more days.