HB 1348 Summary

• Establishes a statewide licensing requirement for transient vacation rentals under the Department of Commerce and Consumer Affairs, effective July 1, 2019.

• Requires transient vacation rental owners to obtain licenses, maintain client trust accounts for consumer funds, establish 24/7 local contacts, and comply with county ordinances and community covenants.

• Imposes progressive penalties: $2,000 civil penalty for initial violations, $5,000 and license suspension for second violations, and $10,000 and license revocation for subsequent violations, with liens placed on properties.

• Mandates online rental service providers to sign memoranda of agreement with the state, providing owner information and creating mechanisms for the director to investigate suspected violations.

• Amends the transient accommodations tax definition to include transient vacation rentals, ensuring they are subject to state and local taxation requirements.