City Council

(32) 24-1456 CONTINUED CONSIDERATION OF BUDGET, FINANCE AND INNOVATION COMMITTEE REPORT relative to reviewing the City's Transient Occupancy Tax (TOT) and report with other municipalities' TOT practices, recommendations to maximize the City's overall TOT tax revenue, and recommendations for closure of TOT collection and remittance loopholes in preparation of the 2028 Olympic Games. Recommendation for Council action, pursuant to Motion (McOsker, Blumenfield – Krekorian): INSTRUCT the City Administrative Officer (CAO) and the Office of Finance, with the assistance of the Chief Legislative Analyst (CLA), the City Tourism Department and hotel operators, to review the City's TOT and report with other municipalities' TOT practices, recommendations to maximize the City's overall TOT tax revenue, and recommendations for closure of TOT collection and remittance loopholes to maximize TOT revenues in preparation of the 2028 Olympic Games and the anticipated increase in tourism. Fiscal Impact Statement: Neither the CAO nor the CLA has completed a financial analysis of this report.