                                 CODE OF VIRGINIA

ADDITIONAL TRANSIENT OCCUPANCY TAX FOR HISTORIC LODGING PROPERTIES (§
58.1-3825.2:1)

A. As used in this section:
			&#8220;Eligible historic lodging property&#8221; 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.
			&#8220;Qualified county&#8221; 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.

HISTORY: 2018, c. 626.