(a) In the event that the Commissioner of the Revenue makes a written determination that a rental business previously certified as a short-term rental business, pursuant to Section 880.05, has failed to meet either of the tests set forth in subsection 880.01(i) during the preceding tax year, such business shall lose its certification as a short-term rental business and shall be subject to the business personal property tax with respect to all rental property for the tax year in which such certificate is lost and any subsequent tax years until such time as the rental business obtains recertification pursuant to this chapter.
(b) In the event that a rental business loses its certification as a short-term rental business pursuant to this section, such business shall not be required to refund to customers short-term rental taxes previously collected in good faith and shall not be subject to assessment for business personal property taxes with respect to rental property for tax years preceding the year in which the certification is lost unless the Commissioner of the Revenue makes a written determination that the business obtained its certification by knowingly making materially false statements in its application, in which case the Commissioner of the Revenue may assess the taxpayer the amount of the difference between short-term rental taxes remitted by such business during the period in which the taxpayer wrongfully held certification and the business personal property taxes that would have been due during such period but for the certification obtained by the making of the materially false statements.
(c) A short-term rental business that has been decertified pursuant to this Section shall be eligible for recertification for a subsequent tax year upon a showing that it has met one of the tests provided in subsection 880.01(i) for at least ten months of operations during the present tax year.
(Ord. 18-20. Passed 11-14-18)