(a) Imposition of Surcharge. Effective August 1, 1996, there shall be a surcharge of two percent, in addition to the 12 percent tax specified in Section 502.8, on the rent for every occupancy of the guest rooms in a hotel located within the boundaries of a SFRA Project Area (as such area is defined in Section 502.7). The surcharge so collected shall be deposited in the General Fund subject to appropriation pursuant to the budget and fiscal provisions of the Charter.
(b) Prorata Allocation of Tax and Surcharge. 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 a tax of 12 percent to the extent that it covers any portion of the period prior to August 1, 1996, and to the tax of 12 percent plus the two percent surcharge herein imposed to the extent that it covers any portion of the period on or after August 1, 1996, and such payment, charge, bill or rent due shall be apportioned on the basis of the ratio of the number of days falling within said periods to the total number of days covered by such payment. Where any surcharge 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) No Credit for Transient Occupancy Taxes Paid to the San Francisco Redevelopment Agency. The credit in Section 502.8(c) for a transient occupancy tax levied by and paid to the San Francisco Redevelopment Agency shall not be applicable to the surcharge levied pursuant to this Section.
(d) Limitations of Effectiveness. Section 502.8-1 shall be of no further force or effect on and after December 31, 2027 or, in the event of a default on the agency bonds (as defined in Section 502.8 above), on the date that such bonds are discharged.
(Added by Ord. 290-96, App. 7/12/96; amended by Ord. 19-98, App. 1/16/98)