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[KevinKorell]

Progressive Railroading, 5/12/14:

The Honolulu Authority for Rapid Transportation (HART) received $61.7 million in first-quarter General Excise and Use Tax (GET) surcharge revenue for construction of the Honolulu transit-rail project.

This is the story.

[CNJRoss]

Progressive Railroading, 4/27:

 

Honolulu rail transit project reports $65 million in tax revenue

The Honolulu Authority for Rapid Transportation (HART) collected $65 million in tax revenue the quarter ended March this year for the construction of the city's rail project, the agency announced late last week.

The amount, which came from a half percent general excise and use tax (GET) surcharge, was $9 million above quarterly projections based on HART's financial plan, agency officials said in a press release.  .  .  .

 

Continue here.

 

 

HART news release:
 

April 23, 2015

HART receives $65 million in GET revenue for rail construction

 

The Honolulu Authority for Rapid Transportation (HART) received $65 million in General Excise and Use Tax (GET) surcharge revenue this past quarter for construction of the Honolulu rail project.

 

GET surcharge revenue for the quarter running from January to March of this year was about $9 million above projections for the quarter based on the project’s financial plan.

 

“We now have collected nearly $1.47 billion in local revenue funding for rail,” said HART Executive Director and CEO Dan Grabauskas. “While our overall collections remain about $30 million lower than projected, this quarter’s installment is welcome news.”

 

The half-percent GET surcharge for Oahu, which by law can only be used for Honolulu’s rail system, began in January 2007 and is set to expire at the end of 2022. The surcharge is estimated to fund 70 percent of the project’s cost, with the remaining balance to be paid for with federal funds.