HB 24-1050 Summary

• Local taxing jurisdictions must report local lodging tax and building permit-related sales or use tax information to the Department of Revenue Executive Director by June 15, 2025, and the Executive Director must publish this information by July 1, 2025, with updates by January 1 and July 1 annually thereafter.

• Defines "local lodging tax" to include taxes on furnishing rooms or accommodations imposed by local marketing districts, counties, or other local governments, and requires reporting of tax rates, lodging types covered, length of stay exemptions, and vendor fees.

• Expands the Sales and Use Tax Simplification Task Force to include simplification of local lodging taxes and study the feasibility of creating an electronic portal for collection and remittance of local lodging taxes comparable to the existing sales and use tax system.

• During the 2024 interim, the Task Force must receive testimony from industry stakeholders on the feasibility and status of electronic collection systems for local lodging taxes and may recommend implementing legislation.

• Appropriates $129,665 to the Department of Revenue for the 2024-25 fiscal year, including $114,021 for 1.8 additional FTE positions and $15,644 for operating expenses.