Proposes a change to city law: Temporarily suspending the cap on the use of Homelessness Gross Receipts Tax revenues to fund short-term rental subsidies.
Ordinance temporarily suspending the cap on the use of Homelessness Gross Receipts Tax revenues to fund short-term rental subsidies; and finding that temporarily allowing for increased expenditures on short-term rental subsidies will further the purposes of the Our City, Our Home Fund pursuant to Business and Tax Regulations Code, Section 2811.
How it got here
This legislation originated from the need to address homelessness in San Francisco by temporarily lifting the cap on short-term rental subsidies funded by the Homelessness Gross Receipts Tax.
Proposition C imposed a Homelessness Gross Receipts Tax to fund programs aimed at preventing and addressing homelessness, establishing the framework for the Our City, Our Home Fund.
The Board adopted Ordinance No. 185-23, temporarily lifting the cap on short-term rental subsidies for Fiscal Years 2023-2024 and 2024-2025.
The Board lifted the cap on short-term rental subsidies again for Fiscal Years 2025-2026 and 2026-2027 via Ordinance No. 143-25.
The Mayor's Office submitted the proposed budget for FY 2026-27 and FY 2027-28, including the ordinance to temporarily suspend the cap on short-term rental subsidies.
The Budget and Appropriations Committee reviewed the proposed ordinance to suspend the cap on short-term rental subsidies as part of the budget process.
The Board of Supervisors conducted the first reading of the ordinance to temporarily suspend the cap on the use of Homelessness Gross Receipts Tax revenues for short-term rental subsidies.
The ordinance is currently pending approval following its first reading and committee review.
Reconstructed from attached documents & the official record
