Report Title:

Council on Revenues

Description:

Consolidates the dates on which the Council on Revenues must report various economic data.

THE SENATE

S.B. NO.

2833

TWENTY-FIRST LEGISLATURE, 2002

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO THE COUNCIL ON REVENUES.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 37-111, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

"(a) There shall be a council on revenues which shall prepare revenue estimates of the state government for the fiscal year in progress and for each of the ensuing fiscal years of the six-year state program and financial plan. The council shall report the estimates and revisions thereto to the governor and the legislature each [June 1, September 10, January 10, and March 15.] June 15 and December 15. The chairperson of the council or the department of taxation shall convene interim workshops to evaluate current economic conditions and the need for revenue estimate updates. The council shall revise and update such estimates if it determines that such revisions are necessary or upon request of the governor or the legislature."

SECTION 2. Section 37-113.1, Hawaii Revised Statutes, is amended to read as follows:

"§37-113.1 Council on revenues; estimate of total personal income. The council shall prepare an estimate of the total state personal income for the calendar year in progress and, when necessary, for the next succeeding calendar year for which such income has not been determined or published and shall report the estimate and any revision thereto to the director of finance, the governor, the chief justice, and the legislature each [August 5 and] November 5."

SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 4. This Act shall take effect upon its approval.

INTRODUCED BY:

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