H.B. 1448 - Transient Accommodations Tax; Allocation of Funds

• Repeals an expired provision requiring $2,000,000 annually from the Tourism Special Fund for visa programs and travel opportunities that was set to expire on June 30, 2015.

• Reallocates transient accommodations tax revenues to the Special Land and Development Fund (rather than the general fund) with $3,000,000 designated for natural resource protection and visitor experience enhancement projects.

• Clarifies that the Board of Land and Natural Resources and Hawaii Tourism Authority must mutually agree on expenditures from the Special Land and Development Fund allocation according to the long-range strategic plan for tourism.

• Maintains existing allocations: $26,500,000 to convention center enterprise special fund, $82,000,000 to tourism special fund, $103,000,000-$93,000,000 distributed to counties, and $3,000,000 to Turtle Bay conservation easement.

• Takes effect on July 1, 2020.