Gov. David Ige can add more than $40 million in much-needed tax revenue to Hawaii’s general fund every year by letting Senate Bill 1292 pass into law.

State lawmakers approved SB 1292 in April, which requires all short-term rental (STR) platforms, such as Airbnb, to collect and remit general excise and transient accommodation taxes, and sent it to the governor weeks ago. At Airbnb, we think that’s a pretty good idea.

The streamlined process is estimated to deliver $46 million to the state this year alone if it becomes law.

Airbnb is committed to helping our community pay its fair share of hotel and tourist taxes — the taxes covered by SB 1292.

We’re proud to have partnered with over 400 local governments globally to collect and remit taxes, and we’ve remitted more than $1 billion in hotel and tourist taxes in the U.S. alone.

With SB 1292, Hawaii could join these governments, including more than 30 U.S. states, where Airbnb collects and remits these taxes.

Here are the facts about SB 1292:

>> It efficiently captures tax revenue from all short-term rental platforms. All short-term rental platforms would be required to taxes on behalf of operators and remit this money directly to the state. Guests would see the taxes as a separate item on their booking receipt, just like guests who stay at hotels.

>> It requires all STR operators to register with DoTAX. All STR operators would be required to have a tax registration number.

>> It requires data-sharing. All STR platforms would be required to provide all taxpayer information to DoTAX, ensuring the state has the required information to ensure tax payments are accurate.

While opponents of SB 1292 have tried to conflate this state tax bill with county-level short-term rental laws, the reality is that the issues are separate.

What’s more, over the past year, all four counties have taken meaningful steps to update regulations and enforcement measures, including the Honolulu City Council, which just approved Bills 85 and 89. And the state of Hawaii’s top attorneys have concluded SB 1292 would not prevent counties from enforcing these laws.

Meanwhile, SB 1292 would allow the state to receive meaningful tax revenue to fund projects for a range of issues, from education to health care and housing. And it would take effect as soon as it passes into law.

State lawmakers recognized the importance of this revenue to their constituents when they approved this measure. It’s time for Ige to do the same.