HI SB1186

Imposes a daily transient accommodations tax of $10 for each transient accommodation furnished on a complimentary or gratuitous basis, or at no charge, including accommodations provided as part of a package.

Caps the amount of transient accommodations tax revenues deposited into the tourism special fund at $69,000,000 per fiscal year for the period beginning July 1, 2011, through June 30, 2015.

Caps the total amount of transient accommodations tax revenues transferred to counties at $93,000,000 per fiscal year for the period beginning July 1, 2011, through June 30, 2015.

Clarifies that revenues collected under the additional tax imposed in section 237D-2(b) shall be deposited into the general fund, not subject to the distribution formula for other transient accommodations tax revenues.

Effective July 1, 2011, with the revenue distribution caps set to expire June 30, 2015, at which point section 237D-6.5 reverts to its form as of June 30, 2009.