HB17-1187

HB17-1187 - Change Excess State Revenues Cap Growth Factor

Postponed Indefinitely
Concerning a change to the growth factor in the excess state revenues cap.

In 2005, voters approved Referendum C, which is a voter-approved revenue change to the TABOR fiscal year spending limit. Under the referendum, the state is permitted to retain and spend all state revenues up to the excess state revenues cap. The excess state revenues cap is adjusted annually for inflation and population changes, among other things.

The bill modifies the excess state revenues cap by allowing an annual adjustment for an increase based on the average annual change of Colorado personal income over the last 5 years, rather than adjusting for inflation and population. Colorado personal income is the total personal income for Colorado as reported by a federal agency. As the modification may increase the amount that the state retains and spends in a given fiscal year, the bill seeks voter approval for the change, as required by TABOR.

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

 

Latest update: March 20, 2017
03/20/2017 - Senate Committee on State, Veterans, & Military Affairs Postpone Indefinitely
03/10/2017 - Introduced In Senate - Assigned to State, Veterans, & Military Affairs
03/09/2017 - House Third Reading Passed - No Amendments
03/08/2017 - House Third Reading Laid Over Daily - No Amendments
03/07/2017 - House Second Reading Passed with Amendments - Floor
03/03/2017 - House Committee on Appropriations Refer Unamended to House Committee of the Whole
02/27/2017 - House Committee on Finance Refer Unamended to Appropriations
02/14/2017 - Introduced In House - Assigned to Finance