Council on Revenues

RELATED INFORMATION:

Council on Revenues Meeting

Agenda – Wednesday, May 29, 2024 2:00 P.M.

2024

Council on Revenues 2024 forecasts
Forecasts 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 DRAFT
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

2022

Council on Revenues 2022 forecasts
Forecasts Minutes
Total Personal Income Forecast – October 27, 2022 October 27, 2022 VIDEO
October 27, 2022 minutes
General Fund Forecast – September 6, 2022
General Fund Forecast – September 6, 2022 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3
September 6, 2022 VIDEO
DOTAX Presentation
September 6, 2022 minutes
Total Personal Income Forecast – August 2, 2022 August 2, 2022 VIDEO
COR TPI Workbook
August 2, 2022 minutes
General Fund Forecast – May 23, 2022
General Fund Forecast – May 23, 2022 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3
May 23, 2022 VIDEO
DOTAX Presentation
May 23, 2022 minutes
General Fund Forecast – March 10, 2022
General Fund Forecast – March 10, 2022 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3
March 10, 2022 VIDEO
DOTAX Presentation
March 10, 2022 minutes
General Fund Forecast – January 6, 2022
General Fund Forecast – January 6, 2022 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3
January 6, 2022 VIDEO
DOTAX Presentation
January 6, 2022 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.

Council on Revenues

Kurt Kawafuchi, J.D., LL.M., M.B.A., C.P.A. (not in public practice), Chair
Appointed by Senate President; Term ends: 06-30-2025
Kristi L. Maynard, Vice-Chair
Appointed by Senate President; Term ends: 06-30-2025
Carl S. Bonham, Ph.D., Member
Appointed by Governor; Term ends: 06-30-2027
Scott W. Hayashi, J.D., Member
Appointed by Speaker of the House; Term ends: 06-30-2025
Wendell K. Lee, Member
Appointed by Speaker of the House; Term ends: 06-30-2025
Michael Y. Hamasu, M.B.A., B.B.A., Member
Appointed by Governor; Term ends: 06-30-2027
Regina Ostergaard-Klem, Ph.D, Member
Appointed by Governor; Term ends: 06-30-2027

Page Last Updated: May 21, 2024