On behalf of the MLA Board of Directors, we would like to thank you for your support as we pursued the approval of this bill over the last four years. In December, Governor Baker signed into law a bill regulating and taxing short-term rentals. The new measure goes into effect July 1 and requires all hosts to register with the state, requires them to carry insurance and will tack on the same 5.7% state tax to short-term rentals that is already in place for hotels. The Massachusetts Lodging Association issues the following statement from President and CEO Paul Sacco regarding Governor Baker's signing of the bill: "We are pleased and gratified that the governor and legislative leaders came together in a bipartisan way to advance this critical measure into law. This is a tremendous victory for municipal leaders and the people of Massachusetts who have been waiting for years while Airbnb rentals have exploded, resulting in skyrocketing housing costs and disruptions in local neighborhoods. By adopting a more level playing field between short-term rentals and traditional lodgers, lawmakers made great strides toward a more fair and sensible system."