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|General Fund Forecast - March 13, 2013|
|Informational briefing to legislative Finance committees, Hawaii State Capitol - January 4, 2013 presented by Richard F. Kahle, Jr.||Council on Revenues Testimony (PDF) 5 pages, 41 KB|
|General Fund Forecast - January 3, 2013||January 3, 2013 minutes|
|Total Personal Income Forecast - October 30, 2012||October 30, 2012 minutes|
|General Fund Forecast - September 6, 2012||September 6, 2012 minutes|
|Total Personal Income Forecast - August 2, 2012||August 2, 2012 minutes|
|General Fund Forecast - May 29, 2012||May 29, 2012 minutes|
|General Fund Forecast - March 7, 2012||March 7, 2012 minutes|
|Informational briefing to legislative Finance committees, Hawaii State Capitol - January 9, 2012 presented by Richard F. Kahle, Jr.||Council on Revenues Testimony (PDF) 4 pages, 38 KB|
|General Fund Forecast - January 5, 2012||January 5, 2012 minutes|
The Council on Revenues is attached to the Department of Taxation for Administrative Purposes.
The Council on Revenues, established under section 37-111, Hawaii Revised Statutes, prepares revenue estimates of the state government for each fiscal year of the six-year state program and financial plan.
The Council reports its latest revenue forecast to the governor and the legislature on June 1, September 10, January 10, and March 15 of each year. In addition, the Council prepares estimates of the state total personal income for such calendar years as are necessary for establishing the state expenditure ceiling.
Forecasts of total personal income are reported to the director of finance, the governor, the chief justice, and the legislature each August 5 and November 5. Estimates prepared by the Council are considered by the governor in preparing the state budget, recommending appropriations, and controlling expenditures; they are considered by the legislature in appropriating funds and enacting revenue measures.
The Council consists of seven members, three of whom are appointed by the Governor for four-year terms and two each of whom are appointed by the President of the Senate and the Speaker of the House of Representatives for two-year terms. The Council is not required to comply with the law on open meetings for public agencies when confidential tax information is discussed, but all estimates submitted to the Governor and Legislature by the Council are public.