PART II. TOURISM SPECIAL FUND; EXEMPTIONS; REPORTS
§201B-11 Tourism special fund. (a) [Repeal and reenactment on June 30, 2007. L 2005, c 22, §50.] 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, 2007. L 2005, c 22, §50.] 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 executive director; 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 235, §7]