Council on Revenues
The Council on Revenues influences how the state of Hawaii spends its money. The nonpartisan, unpaid group of seven economists and business executives provides long- and short-term forecasts of the state’s economy. By law, what the group estimates has to be considered by the governor and lawmakers in determining state expenditures, enacting any revenue-related legislation, and preparing the state’s budget.
The group prepares forecasts on state revenues for each fiscal year as well as quarterly estimates that include all taxes and income owed to the state. Its revenue estimates and any revisions are reported every June 1, September 10, January 10, and March 15 to the governor and Legislature.