Title
AN ORDINANCE creating the lodging tax fund and adding a new section to K.C.C. chapter 4A.200.
Body
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
NEW SECTION. SECTION 1. There is hereby added to K.C.C. chapter 4A.200 a new section to read as follows:
A. There is hereby created the lodging tax fund.
B. The fund shall be a first tier fund. It is a special revenue fund.
C. The director of the office of performance, strategy and budget shall be the manager of the fund.
D. All revenues from the lodging tax shall be deposited into the fund beginning January 1, 2021.
E. The fund shall distribute lodging tax revenues consistent with the requirements of Washington state law and Ordinance 18788. Moneys in the fund shall only be used for the following purposes:
1. Transit oriented development projects that preserve or develop affordable workforce housing;
2. Services that support homeless youth;
3. For art museums, cultural museums, heritage museums, the arts and the performing arts; and
4. Capital or operating programs that promote tourism.