S.B. 703 Summary

• Expands the special land and development fund to include management, maintenance, and development of state parks, beaches, and other natural resources, in addition to existing trail and trail access purposes.

• Allocates two percent of transient accommodations tax revenues to the special land and development fund for management, maintenance, and development of trails, state parks, beaches, and natural resources.

• Maintains existing $3,000,000 annual allocation to the special land and development fund from transient accommodations tax revenues for protection and preservation of natural resources important to the visitor industry.

• Addresses the legislature's finding that increasing visitor numbers (from 6.5 million in 2009 to 8.3 million in 2014) strain state infrastructure and natural resources.

• Takes effect on July 1, 2017.