HI HB2876

Temporarily increases the general excise and use tax rate from 4% to 5% for the period July 1, 2010 through June 30, 2015, excluding county transit system surcharges.

Increases the capital goods excise tax credit rate from 4% to 5% for calendar years beginning after December 31, 2010 through December 31, 2015, then returns to 4%.

Increases the refundable food/excise tax credit by $10 per exemption for calendar years beginning after December 31, 2010 through December 31, 2015.

Amends multiple sections of Hawaii Revised Statutes including provisions for contractors, service businesses, amusements, real property leasing, and use tax on imported tangible personal property and services.

Repeals on June 30, 2015 with affected tax statutes reverting to their pre-Act form.