All proceeds resulting from the imposition of the tax under this subchapter, including penalties, shall be distributed within 30 days after the fifteenth day of the calendar month as follows:
(A) One percent of the gross rental or lease charges collected shall be paid to the Chicago Southland Convention and Visitors Bureau for the sole purpose of promoting tourism and conventions.
(B) The excess over the 1% of the gross rental or lease charges collected shall be retained by the Village to defray the costs of administering and processing the imposition and collection of the tax.
(C) In the event the village increases the tax collected pursuant to § 33.042 hereof, the Bureau shall only be entitled to 1% of the gross rental or lease charges collected.
(Ord. 2066, passed 4-19-04)