Council on Revenues

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Council on Revenues Meeting

Agenda May 28th, 2020 2 PM

2020

Council on Revenues 2020 forecasts
Forecasts	Minutes
General Fund Forecast – March 11, 2020 General Fund Forecast – March 11, 2020 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.	March 11, 2020 minutes DRAFT
General Fund Forecast – January 9, 2020 General Fund Forecast – January 9, 2020 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.	January 9, 2020 minutes

2019

Council on Revenues 2019 forecasts
Forecasts	Minutes
Total Personal Income Forecast – October 31, 2019	October 31, 2019 minutes
General Fund Forecast – August 29, 2019 General Fund Forecast – August 29, 2019 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.	August 29, 2019 minutes
Total Personal Income Forecast – August 1, 2019	August 1, 2019 minutes
General Fund Forecast – May 23, 2019 General Fund Forecast – May 23, 2019 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.	May 23, 2019 minutes
General Fund Forecast – March 12, 2019 General Fund Forecast – March 12, 2019 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.	March 12, 2019 minutes
General Fund Forecast – January 9, 2019 General Fund Forecast – January 9, 2019 Attachments (3) – Attachment 1, Attachment 2, and Attachment 3.	January 9, 2019 minutes
Informational briefing to legislative Finance committees – January 3, 2019 presented by Kurt Kawafuchi Council on Revenues presentation slides (PDF) 39 pages, 946 KB	Council on Revenues testimony 6 pages, 187 KB

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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.

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