§201B-11 Tourism special fund. (a) There is established in the state treasury 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; and
(2) Appropriations by the legislature to the tourism special fund; and
(3) Gifts, grants, and other funds accepted by the authority.
(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) Moneys in the tourism special fund shall be used by the authority for the purposes of this chapter, provided that:
(1) Not more than 3.5 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 president and chief executive officer; 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 22, §50 and c 235, §7; am L 2006, c 306, §1; am L Sp 2009, c 5, §§9, 12; am L 2010, c 102, §5]