Bill > HB5438

This bill creates the Short-Term Rental Regulation Act, which establishes a state-level regulatory framework for short-term rentals in Michigan. The key provisions include: 1. Creating a short-term rental database where owners must annually file a certificate with information about their rental property, liability insurance, and emergency contact details. 2. Requiring short-term rental owners to maintain $1 million in liability insurance, post emergency information in the rental, and equip each bedroom with a carbon monoxide detector, smoke detector, and fire extinguisher. 3. Imposing a 6% statewide excise tax on short-term rental bookings, with the tax revenue distributed to the state for administration and the local government where the rental is located. 4. Authorizing local governments to enact reasonable regulations to safeguard public health and safety, and limiting their ability to completely ban short-term rentals. 5. Establishing a registration and regulation system for hosting platforms that facilitate short-term rental bookings in Michigan. The bill ties its effectiveness to the enactment of several other related bills in the state legislature.

Budget and Finance, Government Affairs

http://legislature.mi.gov/doc.aspx?2024-HB-5438