Defines the rental or lease of individual storage space at self-service storage facilities as a retail transaction for tax purposes.
This bill amends the definition of "retail sale" to include the rental or lease of individual storage space at self-service storage facilities. This change subjects such rentals to business and occupation and sales and use taxes. The bill specifies that the revenue generated from these taxes will be appropriated to agencies and programs that support affordable housing and manufactured home communities.
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