HB 1467 Summary

• Allocates $82,000,000 annually to the tourism special fund with automatic annual inflation adjustments based on the Honolulu Consumer Price Index (CPI-U), beginning July 1, 2017.

• Maintains $26,500,000 allocation to the convention center enterprise special fund and $3,000,000 to the special land and development fund at fixed levels.

• Allocates $1,500,000 to the Turtle Bay conservation easement special fund for debt service on general obligation bonds until bonds are fully amortized.

• Distributes 45% of remaining transient accommodations tax revenues to counties (Honolulu 44.1%, Hawaii 18.6%, Maui 22.8%, Kauai 14.5%), with remaining revenues going to state general fund.

• Effective July 1, 2017; simplifies and stabilizes tax allocation structure to be clear, consistent, and predictable over time.