HI SB382

Increases the transient accommodations tax base for time shares by changing the calculation from one-half of gross daily maintenance fees to the full amount of those fees paid by the owner.

Defines "gross daily maintenance fees" to include maintenance costs, operational costs, insurance, repair costs, administrative costs, taxes (other than transient accommodations taxes), resort fees, and reserve or sinking fund payments.

Excludes optional goods and services such as food and beverage services or beach chair and umbrella rentals from the fair market rental value calculation.

Effective date is January 1, 2020.

Addresses the legislature's finding that the time share tax formula has remained unchanged since 1998 and significantly underestimates fair market rental value, particularly for units not rented on the open market.