RELATING TO MONEYS FOR DISASTER PREPAREDNESS.

Raises the ceiling on expenditures from the major disaster fund from $1 million to $2 million to provide for additional disaster relief. Returns the interest earned on the hurricane reserve trust fund to the hurricane reserve trust fund when the Hawaii hurricane relief fund has policyholders. Creates a civil defense disaster preparedness special fund to build or improve public shelters, improve early warning systems, conduct public education on disaster preparedness, promote loss mitigation efforts, provide around the clock alert staff, update evacuation maps in phone books, develop statewide residential safe room design standards, fund disaster or emergency response programs, establish and maintain emergency supplies.

RELATING TO RENTAL MOTOR VEHICLE SURCHARGE TAX.

Repeals increase in the rental motor vehicle surcharge tax levied between September 1, 1999 and August 31, 2007.

RELATING TO INCOME TAX DEDUCTIONS.

Provides an income tax deduction for qualifying costs of automatic fire sprinkler systems installed and placed into service after December 31, 2006.