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House Co-Sponsorship Memoranda
House of Representatives
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | March 1, 2024 09:29 AM |
|---|---|
| From: | Representative Lindsay Powell and Rep. Jennifer O'Mara |
| To: | All House members |
| Subject: | Studying the Short-Term Rental Industry |
| Short-term rentals have become increasingly popular over the past decade and are continuing to grow in popularity each day, with online platforms making these rentals more accessible than ever before. As of 2022, the global short-term rental market was valued at $100.8 billion and is now expected to reach $228.9 billion by 2030. Given the current popularity and projected growth of the short-term rental industry, the Commonwealth must take time to gather information on this growing industry and review how municipalities are interacting with short-term rentals. It is important that we examine the short-term rental industry to provide guidance to our various governing entities and determine the best policies to protect the residents of Pennsylvania. For these reasons, we will be introducing a resolution that will direct the Legislative Budget and Finance Committee to study the growth and changes of short-term rentals operating in Pennsylvania. After conducting this study, a report containing its findings and policy recommendations will be submitted to the General Assembly. This will help provide guidance to the General Assembly and other local governing entities on how to best ensure the safety and lawful use of short-term rentals in Pennsylvania. We hope that you will join us in supporting this resolution to better our understanding of the short-term rental industry and how it may continue to grow in our state. |
Introduced as HR425