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Stricter regulations on short-term rentals were rebuffed for the second consecutive year by Nantucket town meeting.

Decrying a recent infusion of “tricked-out short-term rentals” owned by off-island investors, the nonprofit group ACKnow sought to require that non-residents apply for a special permit from the town’s Zoning Board of Appeals to rent out properties as an accessory use.

The ACKNow proposal would have regulated the growth of investor-owned vacation rentals such as the Nantucket Collection, an affiliate of Boston-based Copley Group, which has acquired 13 homes on the island with some advertising weekly rates of up to $35,000 per week during the peak summer season. The ACKNow group blames investors for driving up housing costs.

Voters on Monday approved a competing proposal backed by a business-backed group, The Alliance to Protect Nantucket’s Economy, that imposes less stringent regulations on short-term rentals.

Article 39, approved by a 610-302 vote, creates a short-term rental registry. Owners of properties rented at least 15 days per calendar year will be required to register with the Board of Health annually, and lays the groundwork for regulations fining owners up to $300 per offense for violations related to noise, excess parking and nuisances.

The registry exempts properties with a change of occupancy of 32 days or more.

“We applaud Nantucket Town Meeting voters for the overwhelming passage of Article 39, which calls for the implementation of a local registration mechanism and a framework of commonsense regulations to govern short-term rental properties on the island,” the alliance said in statement.