Governor Hochul Signs the Bill to Regulate Short Term Rentals
December 24, 2024: Governor Hochul has signed the bill (S885C/A4130) regulating short term rentals with an amendment agreed to by the NYS Legislature. The original bill would have required STR hosts to register with the state. Governor Hochul stated there was no money in the State budget for the Department of State to create a registry. The amended bill will give counties the ability to create the registries. Counties can opt out of creating a registry. Booking agencies like VRBO and AirBNB will have to send quarterly reports to the Department of State on the number of rentals booked in each county. The bill also requires sales and occupancy tax to be collected on STR rentals. Unlike hotel operators, STR hosts have not had to pay sales tax on their rentals. The Legislature is expected to approve the amended bill in January.