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(a) Imposition and Rate of Tax. Pursuant to Section 7280 of the California Revenue and Taxation Code, the City hereby imposes a tax of 12 percent on the rent for every occupancy of a guest room in any hotel located within the boundaries of a SFRA Project Area. The foregoing tax shall be effective on October 1, 1994. The tax so collected shall be deposited in the General Fund subject to appropriation pursuant to the budget and fiscal provisions of the Charter. The tax shall be subject to all the provisions of this Article and shall be administered accordingly by the Tax Collector.
(b) Apportionment of Tax. When rent is paid, charged, billed or falls due on either a weekly, monthly or other term basis, the rent so paid, charged, billed or falling due shall be subject to the tax of 12 percent herein imposed to the extent that it covers any portion of the period after October 1, 1994, and such payment, charge, bill or amount due shall be apportioned on the basis of the ratio of the number of days falling after October 1, 1994, to the total number of days covered thereby. Where any tax has been paid hereunder upon any rent without any right of occupancy therefor the Tax Collector may by regulation provide for credit or refund of the amount of such tax upon application therefor as provided in this Code.
(c) Credit for Taxes Paid to San Francisco Redevelopment Agency. In the event a transient occupancy tax is levied by the San Francisco Redevelopment Agency on the rent for the occupancy of a guest room in a hotel located within a SFRA Project Area, a credit in the amount set forth in Subsection (d) below shall be applied against the amounts otherwise due and payable to the City under Section 502.8(a). The foregoing credit is only applicable to a transient occupancy tax levied by the San Francisco Redevelopment Agency pursuant to the California Revenue and Taxation Code Section 7280.5 for the purpose of paying debt service (as defined below) on bonded indebtedness issued by the San Francisco Redevelopment Agency (the "agency bonds") for redevelopment purposes.
(d) Amount of Credit. The aggregate amount of the credit for each fiscal year shall not exceed the debt service on the agency bonds due and payable for that fiscal year. "Debt service" means (i) all payments of principal of and interest on the agency bonds, (ii) any required payment made by the Agency to a bond reserve account established under the agency bond indenture for the exclusive benefit of the agency bonds and (iii) any fee charged by the Tax Collector or the Controller pursuant to Subsection (e) below.
(e) Administration of Agency Tax. The Tax Collector and the Controller are hereby authorized to enter into a tax administration agreement with the San Francisco Redevelopment Agency to administer any transient occupancy tax levied by the San Francisco Redevelopment Agency, including collection of taxes and assessment of penalties and interest and any other tax collection functions associated with such levy. Monies collected on behalf of the San Francisco Redevelopment Agency shall be transmitted to the San Francisco Redevelopment Agency for use in accordance with the requirements of the agency bonds and the tax administration agreement. The Tax Collector and the Controller may charge the San Francisco Redevelopment Agency a reasonable fee to compensate for its actual costs of collection and administration services.
(f) Limitations on Effectiveness. Section 502.8 shall be of no further force or effect on December 31, 2027 or, in the event of a default on the agency bonds, on the date that such bonds are discharged.
(Added by Ord. 227-94, App. 6/9/94; amended by Ord. 19-98, App. 1/16/98)