Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same as follows:
SECTION 1. Notwithstanding section 53 of chapter 44 of the General Laws or any other general or special law to the contrary, the town of Yarmouth shall establish in the town treasury a special account to be known as the Tourism Revenue Preservation Fund of the town of Yarmouth, into which account shall be deposited certain receipts comprising a portion of the total local room occupancy tax received annually by the town under section 3A of chapter 64G of the General Laws, as set forth in section 2, as well as any grants, gifts, or donations made to the town in furtherance of the purposes of this act.
SECTION 2. For the purpose of establishing the portion of the local room occupancy tax that may be deposited in this fund, the town shall deposit, commencing during fiscal year 2007, a base amount of $50,000 , subject to appropriation, and 25 per cent of all local room occupancy tax revenue in excess of $1,585,000 received during fiscal year 2006; and for each subsequent year, the same schedule shall apply using the prior fiscal year’s receipts. All interest earned from this fund shall be treated as general fund revenue of the town of Yarmouth.
SECTION 3. There shall be in the town of Yarmouth a community and economic development committee consisting of 7 members appointed by the board of selectmen.
SECTION 4. The community and economic development committee shall recommend to the annual town meeting, commencing with the 2007 town meeting, an amount of money to be appropriated for programs and projects that enhance the beautification, recreational resources, promotional and marketing activities, events, services, and public improvements which are of clear mutual interest to the residents and visitors of the town of Yarmouth, and which strengthen the town as an attractive center for tourism and related purposes of the visitor industry. The cost of these programs shall not exceed the funds available in the Revenue Preservation Fund of the town of Yarmouth, and shall be allocated as follows: beginning with expenditures appropriated for fiscal year 2007, and appropriations made each later fiscal year, no less than 20 per cent and no more than 40 per cent of the fund shall be used for public improvements including beautification, recreational resources, and public improvements related to the mutual needs of visitors and residents with the balance available for related marketing, and promotional programs, projects and events.
SECTION 5. Upon appropriation by town meeting of the amount of money for the programs, services and other projects described under section 4, the director of community development, with the approval of the community and economic development committee, may expend the approved amounts from the fund for these programs, services, and projects, and may, for the purposes of this section, designate funds to be expended under the direction of the department of public works of the town of Yarmouth or other town agencies, as applicable, or obtain competitive proposals or bids for any services, programs or projects to be provided to the town by vendor contracts, all in accordance with chapter 30B of the General Laws or any other applicable law governing public bidding and procurement. Any and all contracts for services, programs and projects authorized under this act shall be awarded and executed by the board of selectmen, or its designee, upon the recommendation of the community and economic development committee, subject to compliance with all applicable procurement laws.
SECTION 6. Nothing in or resulting from this act shall affect amounts distributed to the town of Yarmouth in any year from the Local Aid Fund.
SECTION 7. This act shall take effect upon its passage.
Approved November 1, 2006.