The Regional Tourism Act (RTA) establishes a program that gives local governments the opportunity to apply with the Economic Development Commission (EDC) for approval of a large scale Regional Tourism Project that is of an extraordinary and unique nature, is anticipated to result in a substantial increase in out-of-state tourism, and that generates a significant portion of the sales tax revenue by transactions with nonresidents of the zone.
Local governments must provide reliable economic data demonstrating that, in the absence of State Sales Tax Increment Revenue, the project is not reasonably anticipated to be developed within the foreseeable future.
For more information about the RTA, please check-out the following links:
REVISED – RTA Timeline: Posted 06/11/15
2014/15 RTA Application and Guidelines: Posted 09/24/14