NY Gov. Signs Short-Term Rental Ads Ban, Airbnb Sues

New York Gov. Andrew Cuomo on Friday signed a bill outlawing the advertising of short-term rentals on sharing economy websites such as Airbnb, prompting the company to file a lawsuit challenging the law in New York federal court.

The new law prohibits the advertising of illegal hotels on Airbnb and other similar websites, with violators facing fines of $1,000 for the first offense and $7,500 for the third and each subsequent offense, according to the New York Assembly. The new law, touted as the first in...

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