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Page 3 H, B, N O~ 9 I <br /> 1 moneys may be expended from the transit fund; provided <br /> 2 that: <br /> 3 (A) Such limitation on the expenditure of moneys from <br /> 4 the transit fund shall not occur prior to <br /> 5 December 31, 1992; and <br /> 6 (B) Private source revenues received prior to the <br /> ~ operation of the system or received in each year <br /> g that the surcharge is in effect shall be committed <br /> 9 to the funding of the capital costs of the fixed <br /> <br /> 10 rail rapid transit system prior to any <br /> <br /> 11 determination regarding the duration of the <br /> 12 surcharge. <br /> 13 (2) All surcharges collected by the State for the city and <br /> 14 county of Honolulu but not used for the purpose of <br /> 15 developing a fixed rail rapid transit system shall be <br /> 16 deposited into the state treasury to be returned to the <br /> 17 taxpayers who resided in the city and county of <br /> lg Honolulu for more than two hundred days of the taxable <br /> 19 year in the aggregate during the time that the <br /> 2p surcharges were collected, in the form of an income tax <br /> 21 credit, the amount of the credit to be determined by <br /> 11 law. <br /> HB LRB 97-0856 <br /> <br />