#revenue shortfall

The release of state tax refunds has been approved amid improving collections. The state will begin immediately issuing refunds for income tax returns that were processed during the months of January and February. Refunds will be processed by the Tax Department on a first-in-first-out basis, with the first refunds going to those who were earliest […]

Governor Linda Lingle will hold an emergency meeting with her cabinet directors over the weekend to identify additional spending reductions needed to close the growing budget shortfall.  Today, Lingle said reductions will likely include additional layoffs in order to realize labor savings. The meeting comes on the heels of a reduced revenue forecast that is […]

Governor Linda Lingle today revealed her Administration’s plan to meet a projected $650 million revenue shortfall for the remainder of the current fiscal year (FY09) and the upcoming 2010-2011 biennium budget. The plan combines the use of federal stimulus funds, tobacco funds, interest from and charges to various special funds, adjustments to selected benefits for […]