Kentucky Statutes 153.450 – Levy of additional transient room taxes by urban-county government — Restrictions on use of proceeds — Sunset
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(1) In addition to the four percent (4%) transient room tax authorized by KRS
91A.390(1)(b)2., an urban-county government may levy an additional transient room tax not to exceed two percent (2%) of the rent for every occupancy of a suite, room, rooms, cabins, lodgings, campsites, or other accommodations charged by any hotel, motel, inn, tourist camp, tourist cabin, campgrounds, recreational vehicle parks, or other place in which accommodations are regularly furnished to transients for a consideration or by any person that facilitates the rental of the accommodations by brokering, coordinating, or in any other way arranging for the rental of the accommodations for consideration.
(2) All additional moneys collected from the tax authorized by subsection (1) of this section shall be applied toward the retirement of bonds used to finance a nonprofit corporation which is created for the funding, construction, and management of a convention center in an urban-county, and to defray the operating costs of the nonprofit corporation.
(3) (a) As used in this subsection, “project” means the renovation, expansion, or improvement of a convention center on or after July 15, 2016.
(b) In addition to the levy authorized by subsection (1) of this section, an urban- county government may levy an additional transient room tax not to exceed two and one-half percent (2.5%) to provide funding for a project.
(c) Proceeds from the levy shall be used only for the direct expenditure for, or repayment of debt associated with, the project.
(d) The levy shall sunset upon completion of the project and repayment of all associated debt.
(4) The taxes imposed under this section shall not apply to rooms, lodgings, campsites, or accommodations supplied for a continuous period of thirty (30) days or more to a person.
Effective: January 1, 2023
History: Amended 2022 Ky. Acts ch. 212, sec. 24, effective January 1, 2023. — Amended 2016 Ky. Acts ch. 137, sec. 1, effective July 15, 2016. — Amended 2000
Ky. Acts ch. 158, sec. 1, effective July 14, 2000. — Amended 1986 Ky. Acts ch. 11, sec. 2, effective July 15, 1986. — Created 1980 Ky. Acts ch. 382, sec. 7, effective April 9, 1980.
91A.390(1)(b)2., an urban-county government may levy an additional transient room tax not to exceed two percent (2%) of the rent for every occupancy of a suite, room, rooms, cabins, lodgings, campsites, or other accommodations charged by any hotel, motel, inn, tourist camp, tourist cabin, campgrounds, recreational vehicle parks, or other place in which accommodations are regularly furnished to transients for a consideration or by any person that facilitates the rental of the accommodations by brokering, coordinating, or in any other way arranging for the rental of the accommodations for consideration.
Terms Used In Kentucky Statutes 153.450
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
(2) All additional moneys collected from the tax authorized by subsection (1) of this section shall be applied toward the retirement of bonds used to finance a nonprofit corporation which is created for the funding, construction, and management of a convention center in an urban-county, and to defray the operating costs of the nonprofit corporation.
(3) (a) As used in this subsection, “project” means the renovation, expansion, or improvement of a convention center on or after July 15, 2016.
(b) In addition to the levy authorized by subsection (1) of this section, an urban- county government may levy an additional transient room tax not to exceed two and one-half percent (2.5%) to provide funding for a project.
(c) Proceeds from the levy shall be used only for the direct expenditure for, or repayment of debt associated with, the project.
(d) The levy shall sunset upon completion of the project and repayment of all associated debt.
(4) The taxes imposed under this section shall not apply to rooms, lodgings, campsites, or accommodations supplied for a continuous period of thirty (30) days or more to a person.
Effective: January 1, 2023
History: Amended 2022 Ky. Acts ch. 212, sec. 24, effective January 1, 2023. — Amended 2016 Ky. Acts ch. 137, sec. 1, effective July 15, 2016. — Amended 2000
Ky. Acts ch. 158, sec. 1, effective July 14, 2000. — Amended 1986 Ky. Acts ch. 11, sec. 2, effective July 15, 1986. — Created 1980 Ky. Acts ch. 382, sec. 7, effective April 9, 1980.