Council on Revenues

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Council on Revenues Archives

Council on Revenues Meeting

Wednesday, January 8, 2025 2:00 P.M.

2024

Council on Revenues 2024 forecasts
Forecasts	Minutes
Total Personal Income Forecast – October 30, 2024	October 30, 2024 VIDEO October 30, 2024 minutes DRAFT
General Fund Forecast – September 5, 2024 General Fund Forecast – September 5, 2024 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3	September 5, 2024 VIDEO DOTAX Presentation September 5, 2024 minutes
Total Personal Income Forecast – August 1, 2024	August 1, 2024 VIDEO August 1, 2024 minutes
General Fund Forecast – May 29, 2024 General Fund Forecast – May 29, 2024 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3	May 29, 2024 VIDEO DOTAX Presentation May 29, 2024 minutes
General Fund Forecast – March 11, 2024 General Fund Forecast – March 11, 2024 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3	March 11, 2024 VIDEO DOTAX Presentation March 11, 2024 minutes
General Fund Forecast – January 8, 2024 General Fund Forecast – January 8, 2024 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3	January 8, 2024 VIDEO DOTAX Presentation January 8, 2024 minutes

2023

Council on Revenues 2023 forecasts
Forecasts	Minutes
Total Personal Income Forecast – November 1, 2023	November 1, 2023 VIDEO November 1, 2023 minutes
General Fund Forecast – September 7, 2023 General Fund Forecast – September 7, 2023 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3	September 7, 2023 VIDEO DOTAX Presentation September 7, 2023 minutes
Total Personal Income Forecast – August 1, 2023	August 1, 2023 VIDEO August 1, 2023 minutes
General Fund Forecast – May 15, 2023 General Fund Forecast – May 15, 2023 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3	May 15, 2023 VIDEO DOTAX Presentation May 15, 2023 minutes
General Fund Forecast – March 7, 2023 General Fund Forecast – March 7, 2023 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3	March 7, 2023 VIDEO DOTAX Presentation March 7, 2023 minutes
General Fund Forecast – January 5, 2023 General Fund Forecast – January 5, 2023 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3	January 5, 2023 VIDEO DOTAX Presentation January 5, 2023 minutes

About the Council on Revenues

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.