S.B. 1023 Summary

• Allocates fixed amounts from transient accommodations tax (TAT) revenues to fund the Bernice Pauahi Bishop Museum and Iolani Palace, with specific dollar amounts to be determined.

• Modifies Section 87A-42 to reference TAT revenues from section 237D-6.5(b) generally rather than the specific subsection 237D-6.5(b)(4) for county pension fund contributions.

• Adds TAT revenue allocation to the special land and development fund under section 171-19 by referencing section 237D-6.5(b) instead of the previous specific subsection reference.

• Renumbers and reorganizes the TAT distribution priorities in section 237D-6.5(b) to insert new allocations for Bishop Museum and Iolani Palace as items (1) and (2), shifting existing allocations accordingly.

• Takes effect on July 1, 2050.