There is levied a tax of six percent on the gross revenues of, and upon the total annual revenues of, cable television businesses operating within the city, which tax shall be collected from and levied upon the total receipts of such cable television business(es). For the purposes hereof, the following terms and definitions shall apply:
A. “Gross revenues” means the value proceeding or accruing from the sale of any tangible personal property and/or for services rendered, without any deduction on account of the cost of property sold, the cost of materials used, labor costs, interest, discount paid, delivery costs, taxes, or any other expense whatsoever paid or accrued and without any deduction on account of losses. Gross revenues for the purposes of calculating franchise fees shall be as set forth in any franchise agreement.
B. “Cable television business” means a system providing cable service pursuant to a franchise issued by the city under the Cable Communications Policy Act of 1984, Public Law No. 98-549, 47 U.S.C. Section 521, as it may be amended or superseded.
C. On and after January 1, 2023, the finance director shall allocate one percent of the tax revenue received under this section for the purpose of acquiring, investing in, constructing, improving, providing, operating, preserving, maintaining and/or funding transportation improvements in the city. The remaining five percent levied pursuant to this section shall be relegated for use by the city’s general fund.