Hawaii lawmakers killed a bill that would have reduced the state's take of the tax designated to pay the costs of a $5.2 billion elevated rail now under construction in Honolulu, according to the Honolulu Star Advertiser.

The $21.1 million retained by the state in 2012 to pay for the state's cost of collecting Oahu's half-percent general excise tax surcharge was nearly the entire budget for the state's tax department, according to the newspaper.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.