Virginia SB 547: Transient occupancy tax; eligible historic lodging properties.

Bill Text

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2018 SESSION

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18101749D

SENATE BILL NO. 547 

Offered January 10, 2018 

Prefiled January 9, 2018 

A BILL to amend the Code of Virginia by adding a section 
 numbered 58.1-3825.2:1, relating to transient occupancy tax; eligible historic 
 lodging properties. 
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Patrons-- Hanger and Deeds 

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Referred to Committee on Finance 

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Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section 
 numbered 58.1-3825.2:1 as follows:

� 58.1-3825.2:1. 
 Additional transient occupancy tax for historic lodging 
 properties.

A. As used 
 in this section:

"Eligible historic 
 lodging property" means a structure (i) that contains 450 or more rooms 
 for overnight lodging purposes, (ii) that is situated on one or more parcels of 
 land exceeding 700 acres, and (iii) of which some or all portions of the structure 
 were constructed prior to 1930.

"Qualified 
 county" means a county in which at least 40 
 percent of the employment is in accommodations and 
 food services, as set forth in the Quarterly Census of Employment and 
 Wages for the second quarter of 2017, as published by the Virginia Employment 
 Commission.

B. In 
 addition to such transient occupancy taxes as are authorized by this chapter, a qualified 
 county may impose an additional 
 transient occupancy tax not to exceed five percent of the amount of the charge 
 for the occupancy of any room or space occupied at an 
 eligible historic lodging property. 
 The qualified county may 
 adopt an ordinance implementing the tax only after it holds 
 a public hearing regarding the implementation of such a tax. 

C. The 
 revenues collected from the additional tax authorized by this section shall be 
 designated solely as local funds to be used to incentivize other 
 entities to invest in substantial rehabilitation, renovation, and expansion 
 projects on eligible historic lodging properties 
 that would enhance local economic development and tourism opportunities.

D. The 
 tax imposed hereunder shall not apply to rooms or spaces rented and 
 continuously occupied by the same individual or same group of individuals for 
 30 or more days.