HI HB326

Allocates $82,000,000 annually to the tourism special fund with annual adjustments based on the Honolulu region consumer price index, replacing the previous fixed amount.

Distributes 45% of remaining transient accommodations tax revenues to counties (Kauai 14.5%, Hawaii 18.6%, Honolulu 44.1%, Maui 22.8%), replacing previous fixed dollar amounts.

Maintains existing allocations of $26,500,000 to convention center enterprise special fund and $3,000,000 to special land and development fund.

Allocates $1,500,000 to Turtle Bay conservation easement special fund beginning July 1, 2017 for debt service on general obligation bonds until fully amortized.

Takes effect July 1, 2017 and allows counties to offset employee pension contribution shortfalls from their transient accommodations tax allocations.