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Bureau of Revenue Estimates

The Bureau of Revenue Estimates serves as economic staff for the Comptroller and staff for the Board of Revenue Estimates. As such, the Bureau forecasts and analyzes the State and national economies; forecasts, analyzes and monitors State revenues; and analyzes the effects of State and federal tax legislation on the State's revenues. In addition, the Bureau provides updates and analyses of the State's economy, revenue performance and revenue forecasts to the bond rating agencies prior to every bond sale and otherwise as conditions warrant.

The Bureau acts as legislative staff for the Comptroller on all tax bills and several other types of legislation. Bureau staff prepares fiscal notes for all legislation on tax administered by the Comptroller, acts as a primary contact with legislative staff on tax and revenue issues, attends hearings on tax bills, and prepares and gives testimony representing the Comptroller on matters of tax legislation.

The Bureau prepares economic and revenue data for the Official Statement prepared for each bond offering. Prior to each bond sale, the Bureau participates in conference calls with the bond rating agencies, along with the Treasurer, Secretary of Budget and Management, and the Director of the Office of Policy Analysis of Department of Legislative Services, providing updates on developments and prospects for the State's economy and revenues.

The Bureau is responsible for estimating the impact of any changes to the federal Internal Revenue Code on State revenues and reporting that impact to the Governor and the General Assembly within sixty days. The Bureau is also generally responsible for reports required of the Comptroller by statute, excluding regulatory issues, and most other tax policy analyses and information requests from legislators, the executive branch, other state and local governments, interest groups and the general public.

Mission Statement

Our mission is to encourage compliance with tax laws through aggressive but equitable enforcement activities to level the playing field for all taxpayers. All taxpayers will be treated fairly and will receive courteous service.

The Board of Revenue Estimates is responsible for estimating State revenues. The Board reviews the findings and recommendations of the Revenue Monitoring Consensus Group . The Board has three ex office members: the Comptroller of Maryland, the State Treasurer, and the Secretary of Budget and Management. The Director of the Bureau of Revenue Estimates serves as Executive Secretary.

Estimated Maryland Revenues and Revisions

Revenue estimates from the Board contain the most recent state revenue forecasts, analyses of the Maryland and national economies, and other valuable information.

The Board meets three times a year; March, September and December.

Date: May 14, 2020 at 10 AM
Revenue update, non-voting meeting
Location:  Virtual Meeting Streaming Live on Comptroller of Maryland Face Book Page

Contact Information

Division Director

David Farkas, Acting Director

Division Staff

Kynara Fogan, Executive Associate
Natalia Medynets, Revenue Policy Analyst
Carol Novella, Contractual

Phone: 410-260-7450

Our Organization

Organizational Chart