HI HB795

Limits county distribution of transient accommodations tax revenues to the lesser of 44.8 percent or $101,978,000 annually, with $101,978,000 representing fiscal year 2009-2010 actual distributions.

Modifies Hawaii Revised Statutes Section 237D-6.5(b) to cap county allocations while maintaining existing percentages for convention center enterprise special fund (17.3 percent) and tourism special fund (34.2 percent).

Requires the director of finance to compute county distributions based on $101,978,000 by January 1 of each fiscal year, with adjustments if actual revenues fall below that amount.

Effective July 1, 2011 and automatically repeals June 30, 2015, with prior statutory language restored upon repeal.