Backup — original pdf

Backup

Live Music Fund - Hotel Occupancy Tax Update Sylnovia Holt Rabb, Deputy Director Economic Development Department November 1, 2021 C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 1 C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 2 Live Music Fund -Hotel Occupancy Tax – Close II • FY21 Revenue - $1,480,105 • Balance as of September 30, 2021 - $3,236,482 • Approximately $292,000 Increase C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 3 Texas State Hotel Occupancy Tax - 351.101(a) 351.101(a) Texas Hotel Tax Two Step: ➢ First step: Revenue from the municipal hotel occupancy tax may be used only to promote tourism and the convention and hotel industry, and that use is limited to the following: ➢ Second step: Uses: 1) the acquisition of sites for and the construction, improvement, enlarging, equipping, repairing, operation, and maintenance of convention center facilities or visitor information centers, or both; (2) the furnishing of facilities, personnel, and materials for the registration of convention delegates or registrants; (3) advertising and conducting solicitations and promotional programs to attract tourists and convention delegates or registrants to the municipality or its vicinity; C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 4 Texas State Hotel Occupancy Tax - 351.101(a) (4) the encouragement, promotion, improvement, and application of the arts, including instrumental and vocal music, dance, drama, folk art, creative writing, architecture, design and allied fields, painting, sculpture, photography, graphic and craft arts, motion pictures, radio, television, tape and sound recording, and other arts related to the presentation, performance, execution, and exhibition of these major art forms; (5) historical restoration and preservation projects or activities or advertising and conducting solicitations and promotional programs to encourage tourists and convention delegates to visit preserved historic sites or museums: (A) at or in the immediate vicinity of convention center facilities or visitor information centers; or (B) located elsewhere in the municipality or its vicinity that would be frequented by tourists and convention delegates; C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 5 Questions? C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 6