HI HB199

Amends the distribution of transient accommodations tax revenues to counties from fixed dollar amounts to a percentage-based allocation of 44.8 percent of total revenues collected.

Maintains the same percentage distribution among counties: Kauai County receives 14.5%, Hawaii County receives 18.6%, City and County of Honolulu receives 44.1%, and Maui County receives 22.8%.

Replaces the previous fiscal year-specific allocation of $103,000,000 for fiscal years 2014-2015 and 2015-2016, and $93,000,000 for subsequent years with the percentage-based formula.

Requires the state director of finance to retain and deposit funds into county trust funds beginning fiscal year 2018-2019 if counties fail to remit their required contributions for separate trust funds established under section 87A-42.

Takes effect upon approval.