One of "the most important pieces of legislation in the last 50 years'' will come before MPs today, signalling major new investment in the hospitality industry.

The Hotels Concession Act 2000 sets out wide ranging benefits for a hospitality industry desperate for an injection of good news -- and those glad tidings may come after the bill has become law.

Government is hoping it will pass through the House of Assembly effortlessly today and be endorsed by Senators before the summer recess.

It seems likely that a speedy transition will signal the green light for at least one planned development -- but Tourism Minister David Allen is keeping the exact details under his hat.

However, when he revealed the details of the Act he hinted that its progress was vital to an upcoming project. And it is also understood that one proposed refurbishment plan could have been put on hold had the bill not come.

Tourism Board chairman Delaey Robinson said the Act would be fundamental in attracting foreign investment and in assisting re-investment in existing properties.

"This is tremendously important legislation,'' he said. "It is watershed stuff.

"This is as important for Bermuda as anything I can think of in the last 50 years. Hotels are so pleased this is happening. It is clearly the best thing the new Government has done since it came to power.

Legislation seen as vital to tourism "It really is the major building block underneath the reinvention of tourism.

This is required for tourism to bring it back to life.'' The Act creates powers for Mr. Allen to grant concession packages for new and existing hotels which embark upon renovation projects.

It includes up to five years' relief on Land Tax, Hotel Occupancy Tax and Payroll Tax. There are also options for duty exemptions on materials imported for refurbishments and on alcohol sold to guests.

The Bermuda Hotel Association (BHA) are in full support of the move but hopes Government will consider changing a 40-bedroom minimum for qualification for benefits, to allow some of the Island's smaller properties to get in on the act.

And BHA executive director John Harvey said he hoped there would be some room for properties who have already completed work.

"We believe it is an outstanding piece of legislation. The Minister ought to be congratulated for his vision in bringing this to Parliament,'' he said.

"It certainly gives incentives from a financial point of view. We have clearly shared our sentiments to him in writing.'' He added that the bedroom quota is one area that could be looked at, particularly when there was a trend toward smaller numbers of more upscale properties.

And resorts like Elbow Beach, which had recently spent millions of dollars on revamps should also have an opportunity to benefit, he said.

"There were some properties that have just concluded (work) but will continue to pay for years to come. We need to make a plea for retroactivity.

"Elbow comes to mind. They spent a lot of money in recent years and continue to do so. They could benefit by this.'' Mr. Robinson said the bill was vital for the Castle Harbour hotel project but would also serve to kick-start the revitalisation of the entire industry.

There would also be training opportunities for Bermudians, an improvement of service standards and a better environment for Island entertainment, he said.

"It will give concessions that will pay for local entertainment that sends the message out to entertainers that `I can earn a living in my own Country'.'' The bill is set for its second and third readings in the House of Assembly, and is expected to proceed to the Senate on Monday.

Mr. Allen did not respond to a written request for a phone interview on the bill, which was faxed to his office on Tuesday.

TOURISM TOU