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Tourist Development Tax Section 125.0104, Florida Statutes, as amended, known as the "Local Option Tourist Development Tourist Development Tax Act" (the "Tourist Development Tax Act"), authorizes Florida counties to levy a tourist development tax on every person who rents,leases,or lets for consideration any living quarters or accommodations m any hotel,apartment hotel,motel,resort motel,apartment,apartment motel,roominghouse,mobile home park,recreational vehicle park or condominium for a term ofsixmonths or less(hereinafter referred to as "Tourist Rentals"). The rate of the tax varies depending upon a county's eligibility to levy particular components of the tax as discussed below. The Tourist Development Tax Act requires that at least sixty days prior to the enactment of the ordinance levying such tax, the governing board of a county must adopt a resolution establishing and appointing the members of a county tourist development council and indicating the intention ofthe county to consider the enactment of an ordinance levying and imposing the tourist development tax. The tourist development council, prior to the enactment of the ordinance, must prepare and submit to the county's governing body for its approval a plan for tourist development. This tourist development plan must provide a list, in order ofpriority,ofthe proposed uses ofthe tax revenue by specific project or special use as well as the approximate cost or expense allocation for each specific project or special use. The County currently levies the tourist development tax,at the rate of four percent of each whole and major fraction of each dollar of the total rental charged for Tourist Rentals. The Tourist Development Tax Act, pursuant to Section 125.0104(3)(c),Florida Statutes,authorizes the levy of the original tourist development tax at a rate of one percent or two percent of each whole and major fraction of each dollar of the total rental charged for Tourist Rentals and permits an additional one percent after the initial one or two percent tax has been imposed for a minimum of three(3)years. An additional one percent(the"Fourth Cent")ofthe Tourist Development Tax may be imposed to pay the debt service on bonds issued to finance the acquisition, construction, reconstruction, or renovation of a retained spring training franchise facility,either publicly owned and operated, or publicly owned and operated by the ownerofa professional sports franchise or other lessee with sufficient expertise or financial capability to operate such facility,and to pay the planning and design costs incurred prior to the issuance of such bonds. The County currently collects and administers the tourist development tax locally. The Tourist Development Tax Act authorizes the Counry to retain a portion of the tax for costs of administration,but such portion may not exceed three percent of collections. While the Ordinance levying the FourthCent was not enacted until the year 2000 and the County did not begin collecting the Fourth Cent until the year 2001,the following table shows the County's ten year history of the revenues from one cent of the Tourist Development Tax in Indian River County: 12