HI HB760

Reduces the state's automatic deduction from county surcharge tax collections from ten percent to three percent to reimburse the state for assessment, collection, and disposition costs.

Requires the Honolulu Authority for Rapid Transportation to submit an annual report to the legislature detailing the amount of county surcharge funds received and a detailed accounting of how those funds are used.

Maintains the quarterly payment schedule for distributing remaining surcharge balances to counties after state reimbursement deductions and any tax appeal dispositions.

Takes effect on July 1, 2015.