(A) Application of proceeds. The net proceeds of the tax collected and remitted to the city pursuant to this subchapter shall be deposited into the general revenue fund of the city and after appropriation thereof, shall be expended only as provided in division (B).
(B) Required expenditures. At least 50% of the net revenue receivable during the fiscal year by the city pursuant to this subchapter shall be expended in the following manner for the promotion of conventions and tourism:
(1) If a convention and visitor’s bureau is located within the city, county or region, the city shall appropriate the percentage required by this division (B) to that bureau. If a convention and visitor’s bureau is not located within the city, county or region, then the percentage appropriation required by this division (B)(1) shall be appropriated as follows:
(a) Any hotel located within the city, county or region may apply to the city for an appropriation to such hotel of a portion of the tax authorized by this subchapter and collected by such hotel and remitted to the city, for uses directly related to the promotion of tourism and travel, including advertising, salaries, travel, office expenses, publications and similar expenses. The portion of such tax allocable to such hotel shall not exceed 75% of that portion of such tax collected and remitted by such hotel which is required to be expended pursuant to this division (B); provided, that prior to appropriating any moneys to such hotel the city shall require the submission of, and give approval to, a budget setting forth the proposed uses of such moneys; and
(b) If there is more than one convention and visitor’s bureau located within the municipality, county or region, the Council may allocate the tax authorized by this subchapter to one or more of such bureaus in such portion as the Council in its sole discretion determines.
(2) The balance of net revenue required to be expended by this division (B) shall be appropriated to the regional travel council serving the area in which the city is located.
(Ord. 180, passed 9-4-2014)