Bill > SB5334

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 of up to 10% on the sale or charge for furnishing of lodging from short-term rentals facilitated through a short-term rental platform. The revenue from this tax must be used exclusively for the operating and capital costs of affordable housing programs, including homeless housing assistance, temporary shelters, and related services. The bill also makes amendments to existing laws to account for this new tax and ensure it does not exceed the overall tax rate cap on lodging. The bill requires a simple majority approval from the enacting legislative authority to implement the tax.