HONOLULU — The Hawaiian House of Representatives passed a bill to raise $2.4 billion in taxes for the financially-troubled light rail line planned for Honolulu and nearby suburbs on the last day of a special legislative session, The Free Lance-Star reports.
The proposal previously passed the Senate and now heads to Gov. David Ige, who said he expects to sign it after a review.
The bill would extend a surcharge on the general excise tax — a surcharge now planned through the end of 2027 — for another three years, generating $1 billion for the project. The general excise tax, currently about 4.5% on Oahu, is essentially a business income tax that's often passed on to customers. The bill also would raise the hotel tax statewide by one percentage point to 10.25% for 13 years, through 2030. For the full story, click here.