INTERIM COMMISSION TO STUDY FISCAL STABILITY
|Move Bill 2 to Legislative Council. The motion fa
03:54 PM -- Bill 2
Representative Gerou explained that Bill 2 would extend the period for transfers for infrastructure spending pursuant to Senate Bill 09-228. Senate Bill 09-228 required a specified percentage of general fund revenues to be transferred to the highway users tax fund and the capital construction fund for a 5-year period beginning in the 2012-13 state fiscal year or a later state fiscal year if a specified trigger is not met. These transfers may be reduced or eliminated depending on the amount of state fiscal year spending constitutionally required to be refunded for the given state fiscal year. Bill 2 extends the original 5-year period for the transfer of moneys from the General Fund to both the highway users tax fund and the capital construction fund an additional 4 years, through the 2020-21 state fiscal year, subject to certain triggers and exceptions.
Senator Morse explained SB 09-228. Representative Gerou stated that by 2020 there will be about 1.2 million more people in Colorado and stressed the importance of keeping up the infrastructure.