(A) Use of funds. All taxes and penalties received by the village on or before February 28, 2011 shall be paid over to the Jacksonville Area Visitors and Convention Bureau, Inc., a not-for-profit Illinois Corporation (“Bureau”), to be expended by it solely to promote tourism and conventions within the village or to otherwise attract nonresident overnight visitors to the village. The Bureau shall account to the village for the expenditure of said funds not less frequently then semiannually. Unless otherwise directed by the corporate authorities of the village, after February 28, 2011, all taxes and penalties received by the village shall be retained by the village and shall be expended by the village to promote tourism and conventions within the village or otherwise to attract nonresident overnight visitors to the village.
(B) Reimbursement of operators’ expenses of promotion. The recipient of the tax shall pay over to each operator such amount as the operator demonstrates to the recipient that the operator has expended in advertising or other promotional activities undertaken for the purpose of promoting tourism and conventions, or otherwise attracting nonresident, overnight visitors to the village; provided, however, that the amount paid to the operator during each calendar year shall not exceed 40% of the amount of tax and penalties received by the village from that operator in that year.
(C) Accounting. The Bureau shall account to the village for the expenditure of said funds, including the payments provided for herein to operators not less frequently than semiannually.
(Ord. 919, passed 8-7-2008; Ord. 933, passed 1-7-2010)