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DIGEST OF INTRODUCED BILL
Madison County food and beverage tax. Permits the Madison County council to increase the Madison County food and beverage tax from 1% to 2% for two years from July 1, 2011, through June 30, 2013. Provides that 50% of the additional tax revenue amount shall be distributed to the cities and towns and the county based on population. Provides that the remaining 50% of the additional revenue shall be distributed to the county for preserving, improving, equipping, operating, maintaining, promoting, and retiring debt on the Paramount Theater. Permits the county to make grants to a foundation that will carry out these purposes.