HJR97-1010 by Representatives
Agler, Grampsas, Owen, and Romero; also Senators Coffman, Lacy,
Blickensderfer, and Rizzuto. Concerning the revenue estimate
for the fiscal year 1997-1998.
WHEREAS, The general assembly is required by section
2475201.3, Colorado Revised Statutes, to make an annual
certification of its estimate of general fund revenues for the
next fiscal year to the controller; and
WHEREAS, Gross general fund revenues for the 1997-98
fiscal year, as estimated in this resolution, have already been
obligated by law as follows:
(1) $50 million for transfer to the capital
construction fund pursuant to section 2475302 (2)
(j), Colorado Revised Statutes;
(2) Amounts required by statute to be
used for: Payments to local governments based on state cigarette
tax collections; property tax and heat or fuel expense grants;
payments to the fire and police members' benefit fund; and
WHEREAS, Under current law, general fund revenues
must be used first to fund the obligations set forth above, second
to fund appropriations for the executive, legislative, and judicial
departments, and third to fund the reserve mandated by section
2475201.1 (1) (d), Colorado Revised Statutes; and
WHEREAS, The general assembly recognizes that new
programs can be funded from the general fund only after these
three priorities are satisfied; and
WHEREAS, If appropriate statutes are amended, additional
general fund revenues could be realized; and
WHEREAS, The estimate of general fund revenues certified
in this resolution does not include the balance carried forward
from the 1996-97 fiscal year; and
WHEREAS, The general assembly intends to make an
annual certification of its estimate of the allowable state fiscal
year spending amount under section 20 of article X of the state
constitution and its estimate of the total allowable state general
fund appropriations under section 2475201.1, Colorado
Revised Statutes; and
WHEREAS, In accordance with the provisions of article
77 of title 24, Colorado Revised Statutes, the estimate of the
allowable state fiscal year spending amount for the 1997-98 fiscal
year under said provisions will be based upon the following conclusions:
(1) For the 1996-97 fiscal year, the state fiscal year spending is $6,452.6 million;
(2) The percentage of allowable increase
in state fiscal year spending for the 1997-98 fiscal year is estimated
to be 5.8 %; and
WHEREAS, In accordance with the provisions of section
2475201.1, Colorado Revised Statutes, the estimate
of the allowable state general fund appropriations for the 1997-98
fiscal year will be based upon the following conclusions:
(1) State general fund appropriations
for the 1996-97 fiscal year, prior to the enactment of any supplemental
appropriations during the 1997 regular session, are $4,162.8 million;
(2) The allowable increase in state general
fund appropriations for the 1997-98 fiscal year is the cost of
reappraisal of taxable property for property tax purposes as required
by section 391105.5, Colorado Revised Statutes, plus
6% of the 1996-97 state general fund appropriations; and
WHEREAS, The revenue estimate and the estimates of
spending made pursuant to this resolution are made for the purpose
of providing direction and guidance to the joint budget committee
in the preparation of the 1997-98 general appropriation act and
does not affect the ability of the general assembly to make spending
decisions in the general appropriation act; and
WHEREAS, The revenue estimate and the estimates of
spending made pursuant to this resolution may be adjusted if additional
relevant information is received by the general assembly after
the adoption thereof; and
WHEREAS, For purposes of section 39 of article V
of the state constitution, this resolution relates solely to the
transaction of business of the two houses of the general assembly;
now, therefore,
Be It Resolved by the House of Representatives
of the Sixty-first General Assembly of the State of Colorado,
the Senate concurring herein:
That, in accordance with section 2475201.3, Colorado Revised Statutes, the general assembly hereby certifies to the controller of the state of Colorado that the estimate of gross general fund revenues for the fiscal year beginning July 1, 1997, is $4,787.1 million. The general assembly further certifies that the estimate of the allowable state fiscal year spending amount for the fiscal year beginning July 1, 1997, under section 20 of article X of the state constitution and article 77 of title 24, Colorado Revised Statutes, is $6,827.1 million and the estimate of the allowable state general fund appropriations for the fiscal year beginning July 1, 1997, under section 2475201.1, Colorado Revised Statutes, is $4,412.6 million.
Be It Further Resolved,
That a copy of this Resolution be transmitted to the controller
of the state of Colorado, Clifford W. Hall.
Committee on Finance.