BCW Among Groups Supporting Short-Term Rental Registry

The BCW is among more than 30 business, hospitality and tourism organizations statewide signing on to a letter from the NYS Hospitality and Tourism Association (NYSHTA) urging Governor Hochul to sign the Statewide Short-Term Registry bill, S.885-C (Hinchey) / A.4130 (Fahy), which passed both houses of the legislature with bipartisan support.

The bill would create a statewide registration system for short-term rentals like Airbnb and require the collection of sales and occupancy taxes generated from such rentals to the state and localities.

Passage of this bill was a top priority this year for the BCW which worked with the Westchester Hotel Association who are members of LEAP.

“This bill represents a multiyear industry effort from NYSHTA and its industry partners that will level the playing field between current, state-regulated tourism businesses and short-term rental companies, and provide millions of dollars in tax revenues,” read the letter from NYSHTA.

The letter noted that a study conducted by All the Rooms, short-term rentals in New York State successfully generated over $960 million in revenue between September 2022 and September 2023 (excluding New York City). The report reveals an estimated loss of approximately $550 million in tax revenue lost by the state over the past 5 years.

Additionally, short term rentals are not currently required to pay occupancy tax, which is an important funding resource for tourism and economic development initiatives for these localities – this legislation would allow municipalities to collect both sales and occupancy tax on such rentals.

Mark Dorr, NYSHTA President said, “Local governments need robust tools to effectively regulate and monitor short-term rentals. A statewide registry will provide the necessary infrastructure to support local efforts and ensure compliance with safety and regulations.”