PART II. TOURISM SPECIAL FUND; EXEMPTIONS; REPORTS

 

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

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

(2)  Appropriations by the legislature to the tourismspecial fund;

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

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

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

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

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

All interest accruing from the investment of thesemoneys 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 beused by the authority for the purposes of this chapter; provided that:

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

(2)  At least $1,000,000 shall be made available tosupport efforts to manage, improve, and protect Hawaii's natural environmentand 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, §50and 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 thetourism special fund for fiscal year 2010-2011.  L Sp 2009, c 5, §11.