Lingle to release most tax refunds by end of this month
Gov. Linda Lingle said today that she will release most state tax refunds by the end of this month instead of delaying the refunds until July.
Taxpayers who filed in January and February should expect their returns starting with automatic deposits on Friday and mailed refund checks starting May 28.
Lingle said she will release about $125 million worth of refunds, about 60 percent of the $207 million in pending refunds so far.
Lingle had announced that she would delay tax refunds until the next fiscal year in July to help with the state's budget deficit.
Improved state tax collections, however, convinced her to release the refunds early.
State tax revenues are down 1 percent through the first 10 months of the fiscal year. The state Council on Revenues estimated that revenues would fall 2.5 percent.