JBC overview of budget for GEO
COMMITTEE ON JOINT LOCAL GOVERNMENT
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02:37 PM -- Overview of the budget for the Governor's Energy Office
Senator Tapia explained that the oversight of the Governor's Energy Office (GEO) is the responsibility of the Senate Committee on Local Government and Energy. Senator Tapia discussed the charge of the GEO, and explained that funding for GEO and it's 27 FTEs is primarily funded by federal grants. Committee discussion ensued regarding the future funding of GEO, the possibility of reduced federal funding for GEO, and the GEO needing more state funding for future budget responsibilities.
Senator Tapia addressed questions from the committee concerning the largest impacts of the state and federal economy. He explained that sales and income tax depletions are the largest negative impacts to the state budget. The committee also continued to discuss the impact of severance taxes and local property taxes on local and state budget. Representative Pommer discussed the state economy and referred the committee to a diagram in the JBC document, which shows the income of the state budget. Senator Tapia discussed limitations placed on the state budget by Section 20 of Article XX of the State Constitution (TABOR). Representative White discussed TABOR and the new base in FY 2009-10 that will be set. He also discussed tourism funding by the state and the importance of supporting the tourism industry in the future.