This bill provides that a megayacht is subject to an impact fee of $10 per foot of length over 150 feet for each day up to 30 consecutive days that the megayacht is secured to a slip in a municipality that collects slip fees. Megayachts are defined as certain privately owned vessels that are at least 150 feet in length. It provides that commercial fishing vessels, certain commercial cruise vessels, commercial scientific research vessels, marine salvage or construction equipment vessels, commercial freight-carrying vessels, vessels built
42 before 1950, vessels made primarily of wood, military vessels and vessels owned by
43 academic institutions are not included in the definition of "megayacht." Municipalities are
44 allowed to retain 10% of all impact fees, with the remainder to be transferred to the
45 Megayacht Fund, which the bill establishes. The bill requires that 50% of funds in the
46 Megayacht Fund support harbor infrastructure and sea level rise mitigation infrastructure
47 and 50% of funds support public transit infrastructure, including ferries and land-based
48 public transportation.