All proceeds resulting from the imposition of the tax under this Section, including penalties, shall be distributed within thirty (30) days after their collection as follows:
A. Twenty five percent (25%) of the gross tax collected shall be paid to the Chicago Southland Convention and Visitors Bureau for the sole purpose of promoting tourism and conventions.
B. The remainder over twenty five percent (25%) of the gross tax collected shall be retained by the Village for such corporate purposes as the corporate authorities shall determine from time to time.
C. In the event the Village increases the tax collected pursuant to Section 3 hereof, the Bureau shall only be entitled to twenty five percent (25%) of the amount of tax collected based on the first four percent (4%) of the tax imposed.
(Amd. Ord. 5290, 4-16-18)