HOUSE OF REPRESENTATIVES

THE TWENTY-FIFTH LEGISLATURE

REGULAR SESSION OF 2009

COMMITTEE ON FINANCE

Rep. Marcus R. Oshiro, Chair

Rep. Marilyn B. Lee, Vice Chair

Rep. Henry J. C. Aquino	Rep. Karen Leinani Awana	Rep. Tom Brower	Rep. Isaac W. Choy
Rep. Denny Coffman	Rep. Sharon E. Har	Rep. Chris Lee	Rep. Scott Y. Nishimoto
Rep. Roland D. Sagum, III	Rep. Gilbert Keith-Agaran	Rep. James Kunane Tokioka	Rep. Jessica Wooley
Rep. Kyle T. Yamashita	Rep. Kymberly Marcos Pine	Rep. Gene Ward

NOTICE OF INFORMATIONAL BRIEFING

DATE:	Wednesday, February 11, 2009
TIME:	1:30 PM to completion
PLACE:	Conference Room 308 State Capitol 415 South Beretania Street

AGENDA

William T. Pound, Executive Director of the National Conference of State Legislatures (NCSL), will provide an update of the:

· Current fiscal conditions of all the states;

· Strategies being employed to meet budget shortfalls; and

· Status of the proposed American Recovery and Reinvestment Act being developed by the Congress and the President of the United States.

On February 3, 2009, NCSL updated its data on state budget gaps for fiscal years 2009 and 2010.  On their website, NCSL noted that:

            "The state fiscal situation is rapidly deteriorating, as starkly revealed in NCSL's new report on state budget gaps.  The figures for FY 2009 and FY 2010 have moved from sobering to distressing.

            The latest news on state budgets reveals the severity of the current situation.  For both FY 2009 and FY 2010, more states are reporting budget problems and the size of the gaps has increased.  Even though some states have taken corrective actions, the current FY 2009 gap still stands at $47.4 billion.  This is on top of the $40.3 billion shortfall already closed for this fiscal year. Next year's projected gap is staggering as well.  As states prepare to craft their FY 2010 budgets, the imbalance is pegged at $84.3 billion, up from $64.7 billion in November."

Corina Eckl, Fiscal Program Director, NCSL:

            "These figures are absolutely alarming, both in their magnitude and in the painful decisions they present to state lawmakers.  The easy budget fixes are long gone, only hard and unpopular options remain."

William T. Pound, Executive Director, NCSL:

"The proposed American Recovery and Reinvestment Act could provide more than $300 billion in aid to states.  These funds will help lower, but will not erase, state budget shortfalls.  State lawmakers still face enormous challenges as they take on the mandatory task of balancing their budgets."

If you require special assistance or auxiliary aids and/or services to participate in the House public hearing process (i.e., sign or foreign language interpreter or wheelchair accessibility), please contact the Committee staff at 586-6200 or email your request for an interpreter to HouseInterpreter@Capitol.hawaii.gov at least 24 hours prior to the hearing for arrangements.  Prompt requests submitted help to ensure the availability of qualified individuals and appropriate accommodations.

Selected meetings are broadcast live.  Check the current legislative broadcast schedule on the "Capitol TV" Web site at www.capitoltv.org OR call 550-8074.

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Rep. Marcus R. Oshiro

Chair