SB 1396

Beginning 7/1/2025, requires the Governor to request in the executive budget or supplemental budget that an amount of general funds that approximates the additional Transient Accommodations Tax revenue generated by this Act be expended to advance certain climate change mitigation and tourism projects.  Increases the Transient Accommodations Tax rate beginning on 1/1/2026.  Assesses the Transient Accommodations Tax on gross rental proceeds derived from cruise fares.  Amends the amount of Transient Accommodation Tax that shall be deposited into the Mass Transit Special Fund.  Amends the allowable uses of the Special Land and Development Fund and the portion of Transient Accommodations Tax collections that are allocated to the Special Land and Development Fund.  Effective 1/1/2026.  (CD2)