Establishes "County Tourism Incentive Grant Fund" within Department of Treasury to provide funding for grants to counties to support tourism advertising and promotion.
The bill mandates that starting with the State fiscal year 2022, 100% of excess hotel and motel occupancy fee revenues collected will be appropriated for the purpose of funding these grants. The appropriated funds will serve as a vital support mechanism for counties looking to promote their tourism sectors effectively. As counties receive these grants, it is expected that their tourism advertising campaigns will result in increased visitor numbers, hence fostering local economic development.
Bill A5155 establishes the 'County Tourism Incentive Grant Fund' within the New Jersey Department of Treasury to provide financial assistance to counties aimed at promoting tourism through advertising initiatives. This legislation is designed to channel excess State hotel and motel occupancy fee revenues directly into this grant fund, which counties can access annually. With the fund's establishment, the intent is to bolster local economies reliant on tourism, thereby enhancing advertising efforts to attract more visitors.
While the bill outlines a beneficial framework for counties, concerns may arise regarding the dependency of county funding on occupancy fees, which can fluctuate based on economic conditions and tourism trends. Some critics may argue that reliance on a fee-based funding mechanism can lead to inconsistent financial support for tourism promotion efforts across different counties. Additionally, there are stipulations that counties cannot use the grant funds to replace current funding for tourism, which may further complicate budgeting for some local governments.