BILL NUMBER: S6699
SPONSOR: BORRELLO
 
TITLE OF BILL:
An act to amend chapter 469 of the laws of 2024, amending the tax law
relating to authorizing the city of Olean to impose a hotel and motel
tax, in relation to the effectiveness thereof
 
PURPOSE OR GENERAL IDEA OF BILL:
This bill extends the authorization for the City of Olean to impose a
hotel and motel tax for an additional two years.
 
SUMMARY OF PROVISIONS:
Amends Section 2 of Chapter 469 of the Laws of 2024 to extend the expi-
ration date of the City of Olean's authority to impose a hotel and motel
tax from September 1, 2025, to September 1, 2027. Maintains all other
provisions of the original authorization.
 
JUSTIFICATION:
The hotel and motel tax provides the City of Olean with an essential
source of revenue to support local initiatives, including tourism
promotion, economic development, and infrastructure improvements. With-
out this extension, the city would lose a valuable funding stream that
benefits both residents and visitors. This legislation ensures the
continuation of these benefits for an additional two years.
 
PRIOR LEGISLATIVE HISTORY:
New Bill
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
This legislation allows the City of Olean to continue collecting revenue
from the hotel and motel tax, ensuring stable funding for local
programs.
 
EFFECTIVE DATE:
The act shall take effect immediately.