§ 71.242. Tourist development plan.

The tax revenues received pursuant to this section shall be used to fund the Martin County Tourist Development Plan ("the plan"), which is hereby adopted as follows:

71.242.A.

Anticipated revenues. The tourist development tax shall be levied at a rate of five percent of each dollar and major fraction of each dollar of the total consideration charged for leases and rentals subject to the tax. The anticipated net tourist development tax revenue to be derived by Martin County for the 24 months following the levy of the five-cent tax is $3,200,000.00, less costs of administration and collection as retained by the board and the Tax Collector.

71.242.B.

Purpose. Pursuant to the provisions of the Local Option Tourist Development Act, the plan establishes the uses of the tax revenue by specific promotion, event, or special use as authorized in F.S. § 125.0104(5). The plan also includes the expense allocation by percentage for each specific promotion, activity or special use.

71.242.C.

Use and allocation of five percent tax. The following categories of use of the five percent tax are set forth in section 71.243 herein, together with the percentage of the total amount of yearly revenues to be expended for, or credited to, each category, less cost of collection and administration, subject to the provisions of this article and the approval of the annual Tourist Development Council budget by the Board.

(Ord. No. 611, § 11, 4-23-2002; Ord. No. 785, pt. 2, 1-8-2008; Ord. No. 790, pt. 1, 2-12-2008; Ord. No. 967, pt. 3, 1-20-2015)