2006 Kentucky Revised Statutes - .392   Levy of additional transient room tax by consolidated local government or county containing city of the first or second class -- Exceptions -- Required repeal of tax upon retirement of bonds.

91A.392 Levy of additional transient room tax by consolidated local government or county containing city of the first or second class -- Exceptions -- Required repeal of tax upon retirement of bonds. (1) In addition to the three percent (3%) transient room tax authorized by KRS 91A.390 and the one percent (1%) transient room tax authorized by KRS 153.440, a consolidated local government, or the fiscal court in a county containing a city of the first or second class, except those counties that are included in a multicounty tourist and convention commission under KRS 91A.350, may levy an additional transient room tax not to exceed two percent (2%) of the rent for every occupancy of a suite, room, or rooms charged by all persons, companies, corporations, or other similar persons, groups, or organizations doing business as motor courts, motels, hotels, inns, or similar accommodations businesses. (2) All money collected from the tax authorized by this section shall be applied toward the retirement of bonds issued pursuant to KRS 91A.390(8) to finance in part the expansion or construction or operation of a governmental or nonprofit convention center or fine arts center useful to the promotion of tourism located in the central business district of the consolidated local government or the city of the first or second class located in the county. (3) After the retirement of the bonds provided for in this section, the additional transient room tax levied pursuant to this section shall be void, and the consolidated local government or fiscal court shall take action to repeal the ordinance which levied the tax. Effective: July 15, 2002 History: Amended 2002 Ky. Acts ch. 167, sec. 2, effective July 15, 2002; and ch. 346, sec. 105, effective July 15, 2002. -- Amended 2000 Ky. Acts ch. 154, sec. 1, effective July 14, 2000; and ch. 344, sec. 7, effective July 14, 2000. -- Amended 1998 Ky. Acts ch. 372, sec. 9, effective July 15, 1998. -- Created 1994 Ky. Acts ch. 505, sec. 2, effective July 15, 1994. Page 1 of 1