May 3 Program: State of the Economy
State of the Economy
Presented by Jack Suyderhoud
Monday, May 3, 2010
Hukilau Bar & Grill (Executive Centre (1088 Bishop Street Lower Level)
Find out what is happening with our economy and what we can expect in the future. University of Hawaii Professor Jack Suyderhoud will provide us with his views on this dynamic topic.
>> View event flyer for speaker and program details
About the Council on Revenues The Council on Revenues is attached to the State of Hawaii 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.