Bill > S00885

This bill amends the real property law and the tax law to require the registration and regulation of short-term residential rental units in New York. The key provisions are: - Defines "short-term residential rental units" as entire dwelling units or rooms rented for less than 30 consecutive days, and requires these units to be registered with the Department of State. - Requires short-term rental hosts to maintain records of guest stays and provide them to the Department of State annually. - Requires booking services that facilitate short-term rental transactions to register with the Department of State and provide quarterly reports on the rental units they have facilitated. - Establishes a penalty system for violations, including fines for unregistered units or failure to comply with requirements. - Allows municipalities to enact laws prohibiting or further limiting short-term residential rentals. - Clarifies the tax obligations for short-term rental units and booking services.

Budget and Finance, Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2023/S885