Final
Discussion of Referendums C and D
SCHOOL FINANCE SYSTEM
Votes:
Action Taken:
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09:56 AM -- Discussion of Referendums C and D
Jason Gelender, Senior Staff Attorney, Office of Legislative Legal Services; Mike Mauer, Chief Economist, Legislative Council Staff; and John Ziegler, Director, Joint Budget Committee Staff, came to the table to discuss Referendums C and D.
09:57 AM
Mr. Gelender provided an overview of the referendums for the committee, beginning with Referendum C. He noted that Referendum C will take effect if approved by the voters, even if Referendum D fails. Mr. Gelender responded to a question from Senator Bacon. Mr. Mauer responded to a question from Representative King.
10:04 AM
Mr. Gelender continued his presentation, providing an overview of Referendum D for the committee. He noted that Referendum D will only take effect if Referendum C is approved by the voters. Mr. Gelender responded to questions from Senator Tupa and Senator Windels. Mr. Mauer responded to questions from Senator Windels and Representative Penry.
10:10 AM
Mr. Mauer provided information to the committee on where moneys from Referendums C and D will go, referring to his handout (Attachment D). Mr. Mauer responded to a question from Representative Merrifield regarding moneys available for new programs under Referendums C and D. In addition, he responded to a question from Representative King.
10:19 AM
Mr. Mauer continued his presentation. He responded to a question from Senator Anderson regarding the TABOR reserve. Mr. Mauer noted, in continuing his presentation, that the numbers to which he's referring will change when the September economic forecast comes out. Mr. Mauer responded to a question from Representative King regarding the Senior Homestead Tax Exemption. Mr. Mauer also responded to questions from Representative Penry regarding the structural deficit.
10:24 AM
Mr. Mauer responded to additional questions from the committee regarding the Senior Homestead Tax Exemption.
10:28 AM
Mr. Mauer continued his presentation. He responded to questions from Senator Windels regarding transfers to highways and capital, as well as paybacks to cash funds. Mr. Ziegler provided additional clarification to Senator Windels' questions. Representative Penry asked additional questions regarding transfers to highways and capital, to which Mr. Mauer responded. Mr. Ziegler provided additional clarification.
10:32 AM
Mr. Mauer responded to questions from Senator Tupa regarding new moneys available under Referendums C and D.
10:34 AM
Mr. Ziegler addressed the committee, referring to a handout (Attachment E). He noted that the numbers would change as new revenue forecasts come out. Mr. Mauer noted that the TABOR Surplus Liability number is now $44.7 million. Mr. Ziegler responded to a question from Senator Tupa. Mr. Ziegler continued his presentation, continuing to highlight lines on his handout.
10:43 AM
Mr. Ziegler responded to questions from Representative Pommer and Senator Tupa. Senator Anderson commented on K - 12 capital funding. Mr. Ziegler responded.
10:47 AM
Mr. Ziegler continued, providing an additional handout to the committee (Attachment F). Mr. Ziegler referred to a list of paybacks to cash funds (Attachment G). Mr. Ziegler responded to a question from Representative Penry.
10:53 AM
Representative King asked questions regarding note payments and the 6 percent operating budget to which Mr. Ziegler responded. Mr. Mauer provided additional clarification in response to Representative King's questions. Mr. Ziegler continued his presentation, addressing structural spending, one-time spending, and the 6 percent limit.
11:00 AM
Mr. Ziegler provided additional information in response to a question from Representative Pommer. Senator Anderson commented on K - 12 funding and the impact of the Gallagher Amendment. Mr. Mauer and Mr. Ziegler responded. Mr. Ziegler responded to additional questions from Senator Anderson and Representative King. He also addressed Senator Bacon's earlier questions. Senator Anderson remarked on the role of legislative staff and legislators.
11:08 AM
Senator Tupa commented on his perception of Referendums C and D. Mr. Ziegler responded to questions from Senator Bacon and Representative Penry. He remarked on structural deficit and needs deficit. Representative Penry made further comments concerning Referendums C and D. Senator Anderson responded to Representative Penry's comments. Mr. Ziegler responded to a question from Representative Pommer.
11:14 AM
Representative Pommer asked follow-up questions to which Mr. Mauer and Mr. Ziegler responded. Senator Tupa commented on Representative Pommer and Representative Penry's comments and questions. Mr. Ziegler responded to questions from Representative King regarding Senate Bill 97-1 transfers. Mr. Ziegler commented on Senator Tupa's remarks. Mr. Mauer commented on the need for cuts in the current fiscal year.
11:20 AM
Senator Anderson remarked on the reserve, and asked about TABOR limitations in relation to the reserve. Mr. Gelender and Mr. Ziegler responded to Senator Anderson's question and her follow-up questions.
11:23 AM
Senator Windels thanked the panelists.