Under current law, a local redevelopment authority is authorized to require payments in lieu of tax, to be administered in a parallel manner to state ad valorem, income, sales, and use taxes, and authorizes such authorities to enter into any agreements requiring the payment and enforcement of payment in lieu of taxes due to the governing body establishing the authority. This bill authorizes the local redevelopment authority to require transient occupancy tax as a payment in lieu of tax and authorizes its payment and enforcement. This bill would also require these authorities to report certain payments in lieu of taxes to the Department of Revenue.

Statutes affected:
Introduced: 11-92C-8