Authorizes the city of Olean to impose a hotel and motel tax

This bill authorizes the city of Olean to impose a hotel and motel tax of up to five percent on the nightly rental rate. The tax applies to overnight lodging facilities, including bed and breakfasts, but excludes permanent residents who stay for at least thirty consecutive days. Revenue collected from the tax will go into the city's general fund, with a portion reserved for administrative costs and the remainder dedicated to community and economic development, planning, and tourism. The legislation also establishes rules for tax collection, payment deadlines, and the ability to challenge tax assessments in court.