HTML Code:
<label for="biz_name">Bussines name</label>
Color and all other properties for label element have been set in external CSS file.
Minimizing markup!

I need a JS script, which will:
a) get activated / triggered when label element is being hovered.
b) obtain a color of label element.
c) make that color lighter, of that label element (no matter what color is in question)

Color is hex!