HI HB1285

Amends the distribution of transient accommodations tax revenues by creating a new allocation category for revenues remaining after existing allocations to the convention center fund, tourism fund, and counties.

Directs 96% of remaining revenues to be deposited into the general fund and 4% to the Department of Business, Economic Development, and Tourism (DBEDT) for department operating expenses.

Caps the 4% DBEDT allocation at $12,000,000 annually, with any excess amounts above this cap deposited into the general fund.

Includes revenues derived under section 237D-2(b) in the allocation calculations alongside remaining revenues from other sources.

Effective July 1, 2112, and applies to taxable years beginning after December 31, 2010.