(A) The transient room tax shall be collected by the operators of the businesses described in § 40.05 and be paid over to the city and the said city is authorized to take all appropriate actions to provide for the collection and enforcement of these taxes. As required by KRS 91A.390(1), The proceeds of this tax shall be paid on a monthly basis. Each collecting agent shall file a return in duplicate on a form which is provided for such purpose. The failure to properly fill out and return said reporting form and the taxes shall be subject to such civil and criminal penalties as are available in the Kentucky Revised Statutes for failure to make required disposition of property as provided by the Kentucky Revised Statutes and this section. In addition, the failure to pay said taxes within the required time set out above, a penalty of 6% shall be added to the amount due.
(B) All tax monies received by the city from the collection of the 1% transient room tax shall be immediately disbursed to the Tourism and Convention Commission to be used for the purpose of promoting and developing convention and tourist activities and facilities.
(C) All moneys collected from the transient room tax and any restaurant tax which may be hereinafter imposed, shall be maintained in an account separate and unique from all other funds and revenues collected and shall be considered tax revenue for the purposes of KRS 68.100 and KRS 92.330.
(Ord. 2011-03, passed 5-2-11)