This bill amends the General Laws in Chapter 42-63.1, which pertains to tourism and development, specifically addressing transient lodging accommodations. It revises the definition of "hotel" to encompass a broader range of residential dwellings available for rent and updates the term "hosting platform" to include services that facilitate reservations for tourist or transient use. Additionally, it introduces definitions for "non-owner-occupied residential real estate" and "owner-occupied residential real estate," with the latter requiring the owner to reside in the property within six months of closing for a minimum of six months. The bill mandates that hosting platforms collect and remit taxes, and it prohibits local governments from barring owners from listing their units on hosting platforms if tax regulations are followed. It also requires short-term rental properties to be registered with the department of business regulation, including annual renewal, and specifies what information must be provided during registration. Insertions to the law include the facilitation of reservations, definitions of real estate occupancy types, and registration renewal details, while deletions remove the previous registration deadline of December 31, 2021.

The bill further specifies the information required for short-term rental property registration, such as whether the unit is owner-occupied or not, a detailed description of the property, and the total number of units the owner has listed. It eliminates the requirement for the Department of Business Regulation to notify hosting platforms of compliance by a specific date and instead requires that registration be completed before listing. Penalties for non-compliance with registration requirements are outlined, with fines increasing based on the duration of non-compliance. Additionally, the Department of Business Regulation is charged with maintaining an online database of all registered short-term rental units, each with a unique identification number. The act is set to take effect on January 30, 2025, and ensures that all short-term rental listings on hosting platforms display a valid registration number and its expiration date.

Statutes affected:
2187: 42-63.1-14