HI HB1470

Establishes maximum annual dollar amounts for distributions from the environmental response, energy, and food security tax (barrel tax) to four non-general funds: $1,300,000 to the environmental response revolving fund, $3,800,000 to the energy security special fund, $2,600,000 to the energy systems development special fund, and $3,800,000 to the agricultural development and food security special fund.

Directs all remaining barrel tax revenues, after the maximum distributions are made, to continue being deposited into the general fund.

Intends to make general fund revenue forecasts more reliable, increase legislative oversight of agencies and programs supported by non-general funds, and require those agencies to compete for additional public funding beyond their automatic distributions.

Takes effect July 1, 2015, and is modeled after the distribution method used for transient accommodations tax revenues.