HI HB963

Establishes permanent transient accommodations tax rate of 9.25 percent for accommodations furnished on July 1, 2010, and thereafter, removing the previous June 30, 2015 expiration date.

Repeals temporary additional tax rates of 1-2 percent that were set to expire on June 30, 2015, consolidating all taxation into the single 9.25 percent rate.

Adjusts revenue distribution percentages: convention center enterprise special fund reduced from 17.3 to 13.6 percent, tourism special fund reduced from 34.2 to 23.5 percent, and counties' allocation increased from 44.8 to 35.1 percent.

Removes the $71,000,000 annual cap on tourism special fund deposits and repeals provisions for temporary tax allocations that were scheduled to end June 30, 2015.

Takes effect July 1, 2013, and amends Act 61 (2009) and Act 103 (2011) to remove their sunset provisions.