RES 361 Draft 01 2016-2018 - Laserfiche WebLink

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I ■ B . NO . (C) Of the revenues remaining in the tourism special 2 fund after revenues have been deposited as provided in this 3 paragraph and except for any sum authorized by the legislature, 4 for expenditure from revenues subject to this paragraph, 5 beginning July 1, 2007, funds shall be deposited into the tourism 6 emergency special fund, established in section 201B-10, in a 7 manner sufficient to maintain a fund balance of $5,000,000 in 8 the tourism emergency special fund; 9 (4) [$103,000,000 for fiscal year 2014-2015, $103,000,000 for fiscal 10 year 2015-2016, $103,000,000 for fiscal year 2016-2017, and $93,000,000 for 11 each fiscal year thereafter] 44.8 percent of the revenues collected under this 12 chapter after revenues have been deposited as provided in this section shall 13 be allocated to the counties and distributed as follows: Kaua`i County shall 14 receive 14.5 per cent, Hawaii County shall;receive 18.6 per cent, City and 15 County of Honolulu shall receive 44.1 per' cent, and Maui County shall 16 receive 22.8 per cent; provided that commencing with Fiscal Year 2018-2019, 17 a sum that represents the difference between a County public employer's 18 annual required contribution for the separate trust fund established under 19 Section 87A-42 and the amount of the County public employer's contributions 20 into that trust fund shall be-retained by the State Director of Finance and 21 deposited to the credit of the County public employer's annual required 3