Modifies provisions relating to certain local taxes for the Village of Lamar Heights

HB 340 would allow the Village of Lamar Heights to impose two specific local taxes with voter approval: a 2% tax on food sales at restaurants and a 6% tax on hotel/motel rooms for guests staying less than 31 days. These taxes would fund capital improvements, emergency services, and public safety. The bill requires a voter referendum before implementation, with taxes to be collected separately from other charges and deposited into a special trust fund exclusively for the stated purposes. The village could later seek voter approval to repeal these taxes after initial bonds are paid.