A tax is hereby imposed upon all persons engaged in the business of renting, leasing or letting rooms in a hotel, as defined in The Hotel Operators' Occupation Tax Act within the City of Chicago at a rate of one percent of the gross rental receipts from such renting, leasing or letting, excluding, however, from such gross rental receipts, the proceeds of such renting, leasing or letting to permanent residents of said hotel.
(Prior code § 132-47)