Bill > HB1950

This bill establishes the "State-led Marketing and Branding Special Fund" to be used for state-led marketing, branding, and tourism management, funded by a portion of the transient accommodations tax, which is a tax on short-term lodging like hotels and vacation rentals. The Department of Business, Economic Development, and Tourism will be responsible for creating and submitting an annual comprehensive plan for these marketing and branding efforts to the Legislature for approval. This initiative aims to ensure that tourism marketing efforts are scaled with the industry's success and provide resources to support the industry during downturns, ultimately protecting jobs and tax revenues that are vital to Hawaii's economy. The bill also specifies how revenues from the transient accommodations tax will be distributed, with a new allocation to this special fund after other existing allocations are met. This Act is set to take effect on July 1, 3050.