ALBANY, NY (Erie News Now)--LAWMAKERS IN ALBANY ARE TRYING TO CREATE A REGISTRY FOR SHORT TERM RENTALS.

CURRENTLY IN THE STATE OF NEW YORK, VACATION AND SHORT-TERM RENTALS ARE NOT SUBJECT TO LOCAL AND STATE SALE TAXES.  

THE GOVERNOR’S EXECUTIVE BUDGET PROPOSES CHANGING THIS TO LEVEL THE PLAYING FIELD BETWEEN SHORT-TERM RENTALS AND HOTELS.  

SOME LAWMAKERS SAID THERE’S A PIECE MISSING TO THIS PROPOSAL—POLICY TO CREATE A REGISTRY TO COLLECT DATA ON SHORT TERM RENTALS OPERATING IN THE STATE.  

“In many areas across the state, housing stock is being taken off the market because many homes and places that should be full time homes have been turned into investment properties and short-term rentals. We don’t have a holistic view at the state level on what that looks like,” said Sen. Michelle Hinchey (D-41st Senate District).

THE legislation WOULD ALSO ALLOW LOCAL COUNTIES TO CHARGE SHORT-TERM RENTALS AN OCCUPANCY TAX, ALSO CALLED THE HOTEL MOTEL TAX. 

SOME COUNTY OFFICIALS SAid THE REGISTRY AND THE TAX ADJUSTMENTS COULD HAVE A POSITIVE IMPACT FOR COUNTIES.  

“We really need to get that registry, extend the taxation to these units so that it's bringing it into the modern way of regulating and tracking,” said Michael McLaughlin, Deputy Albany County Executive.

WHILE BUDGET NEGOTIATIONS CONTINUE IN ALBANY, SOME LAWMAKERS SAid THIS IS IMPORTANT POLICY TIED TO FINANCES IN THE BUDGET AND IT SHOULD BE IN THE FINAL PLAN.  

“It’s not a budget direct revenue into the state, it is through sales tax as well as the hotel tax. We do think it belongs and it would be a critical component of this,” said Assembly Member Patricia Fahy (D-Assembly District 109).