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CITY of RAPID CITY Agenda Item Summary |
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Meeting Date: 10/1/14 |
L&F Committee: 10/1/14 |
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Staff Contact: Wade Nyberg/Pauline Sumption |
City Council 1st Reading: 10/6/14 |
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Petitioner: N/A |
City Council 2nd Reading: 10/20/14 |
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Agenda Title: |
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Introduction and First Reading of Ordinance No. 6015 An Ordinance to Consolidate Provisions Related to the Municipal Gross Receipts Tax, Codify the Use of Revenue, and Appoint a Promotion Agency by Repealing Sections 3.16.040 and 3.16.060E. and Adding Chapter 3.18 to the Rapid City Municipal Code |
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Summary: |
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This ordinance consolidates into one chapter of the municipal code all the provisions related to the gross receipts (a/k/a bed, board, and booze) tax. It is based on the Department of Revenue’s model gross receipts tax ordinance, with the exception of the section appointing a promotion agency. There is an agreement with the Chamber of Commerce designating the Convention & Visitors Bureau as the promotion agency of the City, and the agreement also provides that the CVB gets 25% of the tax revenues from the gross receipts tax. The language of that agreement has been incorporated into the ordinance, along with some safeguards should the requirements not be met. |
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Funding Source & Fiscal Impact (if applicable): |
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No fiscal impact is expected, as the revenue is currently divided in the same manner as the proposed ordinance. |
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Recommendation: |
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Action: Approval Notes: |
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Options: |
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Attachments & Links: |
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