HI HB2742

Establishes annual reporting requirement for the Department of Business, Economic Development, and Tourism to determine and publish visitor arrivals starting June 30, 2020, and each year thereafter.

Creates automatic tax rate adjustment mechanism for transient accommodations tax based on visitor arrivals, effective January 1, 2021, through December 31, 2030.

Increases transient accommodations tax rate by 1 percent for the following calendar year if visitor arrivals reach 10 million or greater.

Decreases transient accommodations tax rate by 2 percent for the following calendar year if visitor arrivals fall below 10 million, with a minimum rate floor of 10.25 percent.

Maintains current 10.25 percent tax rate baseline from January 1, 2018, through December 31, 2030, with excess revenues deposited into the mass transit special fund.