PART II. 
TOURISM SPECIAL FUND; EXEMPTIONS; REPORTS



 



§201B-11  Tourism special fund.  (a)  [Repeal
and reenactment on June 30, 2010.  L Sp 2009, c 5, §12.]  There is
established the tourism special fund, into which shall be deposited:



(1)  A portion of the revenues from any transient
accommodations tax, as provided by section 237D-6.5;



(2)  Appropriations by the legislature to the tourism
special fund;



(3)  Gifts, grants, and other funds accepted by the
authority; and



(4)  All interest and revenues or receipts derived by
the authority from any project or project agreements.



(b)  Moneys in the tourism special fund may be:



(1)  Placed in interest-bearing accounts; provided
that the depository in which the money is deposited furnishes security as
provided in section 38-3; or



(2)  Otherwise invested by the authority until such
time as the moneys may be needed; provided that the authority shall limit its
investments to those listed in section 36-21.



All interest accruing from the investment of these
moneys shall be credited to the tourism special fund.



(c)  [Repeal and reenactment on June 30, 2010. 
L Sp 2009, c 5, §12.]  Moneys in the tourism special fund shall be
used by the authority for the purposes of this chapter; provided that:



(1)  Not more than five per cent of this amount shall
be used for administrative expenses, including $15,000 for a protocol fund to
be expended at the discretion of the president and chief executive officer; and



(2)  At least $1,000,000 shall be made available to
support efforts to manage, improve, and protect Hawaii's natural environment
and areas frequented by visitors. [L 1998, c 156, pt of §2; am L 2002, c 38,
§4, c 143, §5, and c 250, §4; am L 2004, c 58, §§7, 14(2); am L 2005, c 22, §50
and c 235, §7; am L 2006, c 306, §1; am L Sp 2009, c 5, §9]



 



Note



 



  The L Sp 2009, c 5, §9 amendment is exempt from the June 30,
2010 repeal and reenactment condition of L 2006, c 306, §1.  L Sp 2009, c 5, §12.



  Deposit of transient accommodations tax revenues into the
tourism special fund for fiscal year 2010-2011.  L Sp 2009, c 5, §11.