POSTED: 7:47 p.m. HST, Mar 6, 2012
State lawmakers today kept their focus on economic recovery while they await word on whether projected revenue growth will be enough to leave the state budget on track.
Legislation to expand state construction, streamline permitting and procurement, and offer tax credits to promote hotel renovation and the film industry is alive as the midpoint of the 60-day session approaches.
State House and Senate leaders will learn Wednesday whether the state Council on Revenues will affirm the 11.5 percent growth forecast for the fiscal year that ends in June. If the revenue forecast holds, the two-year budget will remain in balance, and lawmakers will likely concentrate on adjustments to contain projected deficits in the six-year financial plan. But if the council significantly downgrades the forecast, Gov. Neil Abercrombie and lawmakers will have to shift their attention to the budget in the remaining weeks of the session.