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The proposal previously passed the Senate and now heads to Gov. David Ige, who said he expects to sign it after a review.
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The bill is projected to bring about $2.37 billion to help complete the 20-mile rail by extending the half-percent excise tax surcharge on Oahu for another three years, although the mayor of Honolulu would like it extended to five years.
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If no solution is found by Sept. 15, the federal government could demand that Honolulu return more than $800 million it has already spent and withhold the rest of a promised $1.5 billion funding package.
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The Honolulu Authority for Rapid Transportation has a September 15 deadline to submit its financial plan to the Federal Transit Administration.
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The HART board interviewed seven finalists after narrowing a global search of more than a hundred applicants to succeed the current interim executive director/CEO.
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HART officials said the project would run out of money in January without a cash infusion, and without the bonds, it would have to begin shutting down operations this August.
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Michael Bogonovich and Michael Haverstick join the company to address infrastructure needs for the approaching legislative deadline.
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The goal was to make sure there's enough clearance along the rail line for the train and there are no obstacles in its path.
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The bill would raise the transient accommodation tax paid by visitors from 9.25% to 12% for 10 years.
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The state’s finance committee chair says the bill would generate $792 million, while also reducing the state’s administrative fee from 10% to 1%, which would create another $397 million, bringing the total of the bill to $1.2 billion in funding.
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