Statement of purpose. The Tourism Cooperative Marketing Fund is established to allow the Office of Tourism and Community Development to accept private donations to be used in support of special public and private marketing opportunities. Tourism Cooperative Marketing Fund. All charges collected pursuant to this section must be deposited into the fund.
All interest earned by the account becomes part of the fund.
Any balance remaining in the fund at the end of the fiscal year does not lapse but is carried forward into subsequent fiscal years. Revenue to the fund is collected, managed, deposited, invested and disbursed by the Office of Tourism and Community Development. For purposes of funding its activities, the Office of Tourism and Community Development is authorized to accept donations from private sources and shall consult with donors in making distribution determinations. This section is repealed on July 1, 2007. The Office of Tourism and Community Development shall provide its recommendations to the Governor and the joint standing committee of the Legislature having jurisdiction over economic development matters concerning the need for extending authorization of the fund.