The People's Republic of San Francisco Moves Closer to Legalizing Airbnb

CNBC reports:

Although renters and travelers have been using Airbnb in San Francisco for more than six years, the start-up is set to move toward legitimacy later Tuesday in the city where the company was founded.

The "Airbnb law" will be put to a final vote before the city's board of supervisors around 2 p.m. local time, according to the board. The law is widely expected to be approved, and will allow property owners to legally offer their homes as short-term rentals. The growing online Airbnb community has been a boon for travelers, seeking affordable options, and disrupted the hotel and travel industry. 

After the vote, the law will need a signature from Mayor Ed Lee, who has 10 days to sign. The law then would take effect in February 2015. Those currently renting properties using Airbnb technically are breaking local rules.

But don't think for a minute that the commie pinkos are doing it because of a new respect for free exchange. Here's the kicker:

 One of the biggest changes after the law's passage will be taxes—and a new source of revenue for the city.

Airbnb will be subject to hotel taxes, which are at 14.5 percent in the city, according to Board of Supervisors President David Chiu. He estimates San Francisco will bring in between $12 million and $15 million in the first year, thanks to the city's 14.5 percent hotel tax.