April 10, 2009
Tourism Development Fee Becomes Law
The tourism development fee became law Thursday, April 9, as Gov. Mark Sanford let the deadline for a veto pass at midnight. Local government now has the power to levy an additional 1 cent sales tax to be invested in out-of-state marketing and promotion of the Myrtle Beach area.
"We are encouraged that the tourism development fee legislation is now law in South Carolina," said Brant Branham, board chairman, Myrtle Beach Area Chamber of Commerce. "This new law gives local municipalities and towns within Horry County a new tool to create jobs, reduce property taxes and help spur our local economy. We are very thankful to the Horry County legislative delegation for their efforts to craft this legislation, which is truly a win-win for residents and businesses. We hope local city or town councils will take the opportunity to study this new law and give it their full consideration."
S. 483 allows any municipality located within a county collecting more that $14 million of state accommodations tax in the previous fiscal year the ability to increase sales tax by an additional 1 percent. Currently, only Horry County qualifies for this additional sales tax, and the city of Myrtle Beach is the only municipality within Horry County that is currently considering enacting this new law.
"This is an historic bill, the first of its kind in South Carolina and long overdue," noted Brad Dean, president and CEO, Myrtle Beach Area Chamber of Commerce. "Because of our members' efforts and encouragement, local governments in Horry County finally have a chance to do what they have never been able to do before: adequately fund tourism promotion, while also spurring the growth of tourism-related infrastructure and ensuring that residents receive property tax relief. We are deeply indebted to the Horry-Georgetown delegation for their leadership in empowering local governments to protect our tourism industry, create jobs and lower taxes."
For legislative tracking on specific bills, visit the chamber's Government Relations page.
On the Net
MyrtleBeachAreaChamber.com
SCStateHouse.net
House.gov
Senate.gov
USA.gov
SCChamber.net
USChamber.com
I-73.com
