Allocates all revenue from hotel and motel occupancy fee for arts, historical heritage, and tourism purposes.
Impact
If enacted, S1349 could substantially enhance funding for cultural and tourism initiatives within New Jersey. By ensuring that all revenue from the occupancy fee is directed towards these areas, the bill aims to foster economic growth through increased investment in the state's arts and tourism sectors. This shift in funding could potentially lead to a revival of various cultural programs, increased marketing efforts for tourism, and enhanced support for historical preservation, all of which could benefit local economies.
Summary
Senate Bill S1349 proposes a significant change in the allocation of revenue generated from the hotel and motel occupancy fee. Currently, only 40% of this revenue is allocated to arts, historical heritage, and tourism purposes. The bill aims to increase this allocation to 100%, beginning in the State Fiscal Year 2023. The proposed distribution of the fee revenues would designate 56.7% for the New Jersey State Council on the Arts, 9.6% for the New Jersey Historical Commission, 31.9% for the Division of Travel and Tourism, and 1.8% for the New Jersey Cultural Trust.
Contention
However, the bill may face contention from various stakeholders. Critics might argue that this reallocation could limit funds available for other essential services funded by the general fund. Additionally, there may be concerns about the reliance on hotel and motel occupancy as a stable revenue source, especially in light of fluctuations in tourism and travel patterns. Proponents will need to advocate for the long-term sustainability of such funding and demonstrate how increased support for the arts and tourism can yield broader economic benefits.
Eliminates statutory suspension required on collection of hotel and motel occupancy fee if amounts set for annual appropriations of fee revenues for cultural projects are not met.
Establishes "County Tourism Incentive Grant Fund" within Department of Treasury to provide funding for grants to counties to support tourism advertising and promotion.
Establishes "County Tourism Incentive Grant Fund" within Department of Treasury to provide funding for grants to counties to support tourism advertising and promotion.
Eliminates statutory suspension required on collection of hotel and motel occupancy fee if amounts set for annual appropriations of fee revenues for cultural projects are not met.