Date: 10/16/2006

Final
TABOR Surplus Threshold Amounts from the Department of Revenue

COMMITTEE ON EXECUTIVE COMMITTEE OF THE LEGISLATIVE COUNCIL

Votes: View--> Action Taken:
Motion to approve the TABOR surplus threshold amouPass Without Objection


11:47 AM

Mike Mauer, Office of Legislative Council, presented the Colorado Department of Revenue Memo concerning new surplus threshold amounts that would trigger the distribution of surplus revenues through a variety of refund mechanisms under TABOR (Attachment E). He stated that even though Referendum C passed and precludes the refunding of state surplus revenues under TABOR and thus the thresholds will not be met, the surplus will return later. Further, the department is required by statute to advise the Executive Committee of threshold amounts.

BILL:DOR
TIME: 11:48:31 AM
MOVED:Madden
MOTION:Motion to approve the TABOR surplus threshold amounts presented in the Department of Revenue's memo (Attachment E). The motion passed without objection.
SECONDED:Fitz-Gerald
VOTE
Gordon
Madden
May M.
McElhany
Fitz-Gerald
Romanoff
Final YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection