HI HB809

Increases the transient accommodations tax on resort timeshare vacation units by an additional 2.00 percent for the period July 1, 2011 through June 30, 2015, raising the total rate from 7.25 percent to 9.25 percent on fair market rental value.

Aligns the tax rate on timeshare vacation units with the rate applicable to standard transient accommodation units, achieving parity in taxation.

Directs revenues collected from the 2.00 percent increase to be deposited into the state general fund rather than distributed through the existing transient accommodations tax allocation formula.

Sunsets the additional 2.00 percent tax on June 30, 2015, with underlying provisions reverting to their form as of June 30, 2011.

Effective July 1, 2011.