A bill that would impose a statewide tax on short-term rentals to fund affordable housing passed the California State Senate Wednesday.
Under SB 584, introduced by state Sen. Monique Limón, D-Santa Barbara, starting in January 2025, a 15% occupancy tax on the short-term and vacation rentals popularized by such platforms as Airbnb and VRBO would finance the rehabilitation and construction of permanent lower income housing owned and managed by public entities or nonprofits.
Rental operators collecting less than $100,000 in the prior year would be exempt.
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