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<br /> ,i <br /> Page 2 I I I LJ E N O <br /> luse tax [surcharge) ordinance, and the director of taxation shall <br /> 2 levy, assess, collect, and otherwise administer the general <br /> 3 excise and use tax. [surcharge] for the next taxable year <br /> 4 beginning January 1, (1993,] and for taxable years thereafter <br /> 5 [through December 31, 2002,] as provided by chapters 237 and 238. <br /> 6 (c) The general excise and use tax [surcharges] received <br /> 7from the State by each county shall be used [as follows: <br /> S (1) The city and county of Honolulu shall use the <br /> 9 surcharges to develop a fixed rail rapid transit <br /> 10 system. All private source revenues generated or <br /> 11 pledged to develop a fixed rail rapid transit system <br /> 12 that are received prior to the operatipn of the system <br /> 13 shall be used as county matching funds for moneys <br /> 14 requested from the transit capital development fund, <br /> 15 pursuant to chapter S1D, before surcharges may be used. <br /> 16 The director of finance shall determine whether or not <br /> 17 private sources are adequate to meet county matching <br /> 18 requirements. The director ofrfinance shall submit a <br /> 19 report of the findings to the legislature. Upon <br /> 20 legislative acceptance of the findings, within sixty <br /> 21 days of the first regular legislative session convened <br /> 22 following the submittal of the findings, no additional <br /> HB LRB 97-0856 <br /> <br />