S.B. 2831 Summary

• Authorizes the Department of Taxation to assist counties in levying, assessing, collecting, and administering the county transient accommodations tax, including delinquencies and penalties, for a six-year period beginning January 1, 2025, if a major disaster is declared in a county with population between 100,000 and 200,000.

• Requires all county transient accommodations taxes collected by the state to be deposited in a special account and distributed to the applicable county semi-annually (on or before January 1 or July 1 each year).

• Allows collected taxes to be used by counties for housing infrastructure, infrastructure rebuilding costs related to a major disaster, or related debt service and finance agreement costs.

• Permits the Director of Finance to deduct a percentage of collected amounts to reimburse the state for costs of assessment, collection, and oversight.

• Appropriates unspecified general revenue funds for fiscal year 2024-2025 to the Department of Taxation to assist counties with transient accommodations tax administration.