the sfmta has informed us that their staff has reviewed the legislation and has no concerns and chris schulman is here from the office of small business who will represent the small business commission's findings. i'll now turn over the presentation to ms. mar. thank you. >> good afternoon, supervisors. florence mar, tax director of the office of treasurer tax collectors. we'd like to thank supervisor campos for sponsoring this ordinance. it follows the efforts of former supervisor montgomery gold rick, alioto-pier, [speaker not understood], enforcing the san francisco parking tax. as background, parking tax has been in effect over 40 years. rent tax paid for parking, the operator collects the tax from the occupant, holds it in trust and remits it to the city on a monthly basis. it is a significant and growing revenue source for the city generating over $70 million annually. most of the tax is appropriated by board and to mta. the three components that i'll mention briefly here relate to parking bond, administrative citations, and the government agencies. parking bonds are required of operator