HI HB403

Removes the cap on transient accommodations tax (TAT) revenues allocated to counties, replacing fixed dollar amounts with a percentage-based distribution of 44.8 per cent of all TAT collected.

Distributes county shares as follows: Kauai County 14.5 per cent, Hawaii County 18.6 per cent, City and County of Honolulu 44.1 per cent, and Maui County 22.8 per cent of the percentage allocated to counties.

Designates county TAT revenues for addressing visitor industry impacts on county services and tourism-related infrastructure needs.

Maintains existing allocations to the Convention Center Enterprise Special Fund ($26,500,000) and Tourism Special Fund ($82,000,000), with excess revenues deposited into the general fund.

Takes effect on July 1, 2015.