Colorado Legislative Council Staff

STATE

CONDITIONAL FISCAL IMPACT


Drafting Number:

Prime Sponsor(s):

LLS 99-0891

Sen. Pascoe

Date:

Bill Status:

Fiscal Analyst:

April 28, 1999

Senate SVMA

Harry Zeid (303-866-4753)

 

TITLE:            CONCERNING THE REPEAL OF THE STATUTORY LIMITATION ON STATE GENERAL FUND APPROPRIATIONS WITHOUT AFFECTING THE LIMITATION ON STATE FISCAL YEAR SPENDING ESTABLISHED IN THE CONSTITUTION.


Fiscal Impact Summary

FY 1999/2000

FY 2000/2001

State Revenues

General Fund

 

 

State Expenditures

General Fund

 

 

FTE Position Change

0.0 FTE

0.0 FTE

Other State Impact: Election costs

Effective Date: Upon proclamation of approval by the voters.

Appropriation Summary for FY 1999-2000:

Local Government Impact: None


Summary of Legislation


            This bill would submit a measure to the registered electors of the state at the 1999 General Election to repeal the statutory limitation on state General Fund appropriations, commonly known as the "Arveschoug-Bird Amendment", after FY 1999-00, without affecting the limitation on state fiscal year spending established in the State Constitution.



State Revenues


            State revenues would be unaffected by the bill.



State Expenditures


            The current statutory restriction on state appropriations limits total state General Fund appropriations to moneys necessary for reappraisals of any class or classes of taxable property for property tax purposes as required by Section 39-1-105.5, C.R.S., plus the lesser of:

            •   an amount equal to 5.0 percent of Colorado personal income; or

 

            •   6.0 percent over the total state General Fund appropriations for the previous fiscal year.


            The bill would ask the registered electors of the state to repeal this statutory limitation. All other things being equal, if approved by the voters, the change would increase the amount of General Fund money that the General Assembly would be allowed to appropriate, but would not require the General Assembly to appropriate additional funds for any purpose. Any additional state General Fund appropriations would reduce the amount of money in the General Fund reserve by a corresponding amount.



Departments Contacted


            Legislative Council Staff