Tourism improvement districts; transient occupancy tax in Arlington County.

Added a new provision allowing local boards to impose an additional 1% transient occupancy tax on room rentals, with revenues designated for promoting tourism and business travel.

Created a specific section for Prince George County to impose an additional 2% transient occupancy tax, with revenues restricted to promoting tourism and marketing the county as an overnight destination.

Repealed the previous section (§ 58.1-3825.3) that was superseded by the new specific tax provisions.

Modified the requirements for administering nonprofits to specify that new entities formed on or after July 1, 2026, must have boards wholly composed of business owners, and existing entities must create a business owner oversight committee.

Updated the bill title and section references to reflect the addition of the new tax section and the repeal of the old section.

Deleted the section authorizing Arlington County to levy an additional 0.25% transient occupancy tax for tourism promotion.

Changed the bill title and scope from amending three sections (including the tax) to amending only two sections related to district administration.

Updated the bill header to indicate it is a 'Floor Amendment in the Nature of a Substitute' filed on February 5, 2026, and changed the tracking number.

Adjusted the list of sections to be amended and reenacted to exclude § 58.1-3825.3.