Bill > SB5978

This bill provides a local government option for the funding of essential affordable housing programs. It allows counties, cities, or towns to impose a special excise tax on the sale or charge for the furnishing of short-term rental lodging facilitated through a short-term rental platform. The tax rate cannot be less than one percent and must be used exclusively for the operating and capital costs of affordable housing programs, with up to 5% of the revenue allowed for administrative costs. The bill also amends existing laws to clarify that the tax imposed under this bill is not included in the calculation of the total sales tax rate limit.