HI SB2430

Allocates $12,000,000 annually from transient accommodations tax revenues to the special land and development fund, requiring mutual agreement between the board of land and natural resources and the Hawaii tourism authority board.

Increases transient accommodations tax allocation from $3,000,000 to $12,000,000 for protection, preservation, and enhancement of natural resources important to the visitor industry.

Adds transient accommodations tax revenues as a funding source for the beach restoration special fund under section 171-156.

Updates statutory references to direct transient accommodations tax revenues to the special land and development fund rather than dispersing them through multiple separate provisions.

Effective date: July 1, 2014.