This bill authorizes the city of Woodbury to impose by ordinance tax of up to two percent on gross receipts of lodging. Revenues from the tax would be used for capital expenses related to the renovation and improvement of Central Park.
Under current law, local jurisdictions may impose, without legislative approval, up to a three percent tax on lodging gross receipts, 95 percent of which must be used to fund tourism promotion in the city. This bill provides that the total tax that may be imposed under current authority and the authorization in the bill must not exceed three percent.
Effective the day after the city files its local approval with the Secretary of State.