POSTED: 08:15 p.m. HST, Jul 21, 2011
LAST UPDATED: 05:00 a.m. HST, Jul 22, 2011
Revenue from the general excise tax surcharge for the $5.3 billion rail transit project has exceeded the city's recent projections, the Honolulu Authority for Rapid Transportation announced Thursday in a news release.
The state collected $49.8 million in revenue from the 0.5 percent general excise surcharge for the last quarter of this fiscal year, totaling $179.1 million for this fiscal year.
That's 9 percent more than the $163.9 million HART officials projected, said HART spokeswoman Jeanne Belding.
The surcharge collections to date total $715 million, $15 million more than the city projected.