A 5 day special legislative session in Hawaii produced a rail deal that will:
- 5 top legislative leaders got on the same page.
- Senate President
- House Speaker
- Senate Ways and Means Committee chair
- House Transportation Committee Chair
- House Finance Committee Chair
- Agreed to:
- use specific numbers on the project and in the revenue generating plan:
- use only the numbers of Hawaii Department of Budget and Finance and not lobbyist provided numbers
- total revenue generated for the project: $2.4 billion over 13 years
- $1.046 billion from a 0.5%t general excise tax charged on Oahu taxpayers
- $1.3 billion from hotel guests statewide via a 1% increase in the hotel room tax
- Extends by 3 years the 0.5% general excise tax & increases the hotel room tax to 10.25 percent from 9.25 percent for 13 years.
- require certain levels of transparency
- require a timeline & sunset provisions on the taxes, which if not adhered to kills the project
- use specific numbers on the project and in the revenue generating plan:
Honolulu News | How the Legislature’s ‘Big Five’ Crafted A Deal To Rescue Honolulu Rail