Council on Revenues Remains Unchanged, No Special Session

Governor Neil Abercrombie. File photo.

By Sonia Isotov

The Hawaii Council on Revenues met Thursday in a regularly scheduled meeting, and did not change its previous forecast for the state’s general fund tax revenue.

Since the Council on Revenues forecast today was unchanged for the current and upcoming fiscal years. Governor Neil Abercrombie released a statement saying that he had no plans to call for a special session.

“My Administration remains committed to working with the budget that we have.  That has not changed.” Said Governor Neil Abercrombie in a statement released by his office today. “We are moving the economy in a positive direction and getting things done to fix government.  Our New Day plan is on track.”

The Council’s last meeting was at the end of March, and the general fun tax revenue forecast at that time was reported to be a 1.6 percent decrease in general fund tax revenues for the current year fiscal year, with an 11% tax revenue growth in fiscal year 2012.