The state Council on Revenues today lowered its revenue forecast for this fiscal year, which will likely lead to further state spending restrictions and less money available for state lawmakers to spend on state programs next fiscal year.

The council reduced the forecast to 3.9 percent, down from 4.9 percent in January. The projection means that the state will likely have about $50 million less than Gov. Linda Lingle and state lawmakers thought for this fiscal year.

The reduction was based largely on the state's 3.1 percent revenue growth through February and an adjustment downward in job growth numbers. Economists on the council determined that revenue growth during the last four months of the fiscal year would not be enough to reach the 4.9 percent estimate from January.

"The chances of realizing that are about zero," said Jack Suyderhoud, a professor of business economics at the University of Hawai'i-Manoa.

The council left its 4.1 percent forecast for next fiscal year unchanged.

The state House has passed its version of the supplemental state budget for next fiscal year. The council's new forecast will influence the state Senate as it reviews the budget over the next several weeks.