Increases transient accommodations tax to fund climate mitigation and economic development.

This bill raises the transient accommodations tax to support climate change mitigation and economic development in Hawaii. It establishes the climate mitigation and resiliency special fund and the economic development and revitalization special fund. The tax rates increase over time, with a portion of the revenue allocated to these special funds. The bill also creates a selection committee to review and recommend projects for funding. The department of defense will manage the funds and projects, focusing on climate resilience and economic revitalization.

Increases transient accommodations tax to fund climate mitigation and economic development.

This bill raises the transient accommodations tax to support climate change mitigation and economic development in Hawaii. It establishes the climate mitigation and resiliency special fund and the economic development and revitalization special fund. The tax rates increase over time, with a portion of the revenue allocated to these special funds. The bill also creates a selection committee to review and recommend projects for funding. The department of defense will manage the funds and projects, focusing on climate resilience and economic revitalization.