INTERIM COMMISSION TO STUDY FISCAL STABILITY
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09:04 AM -- Presentation by Hank Brown on His Recommendations for Fiscal Stability
Hank Brown, former U.S. Senator and former president of the University of Colorado system, discussed past budgeting actions by the legislature and provided a number of recommendations to promote long-term fiscal stability. Regarding higher education, he indicated that across-the-board cuts are not beneficial. He cited the lessons learned in the past by Colorado universities and recommended shifting dollars for general scholarships to work study scholarships.
Regarding K-12 funding, he suggested a program where public school students would be allocated money less than the amount provided per pupil for a public school if they choose to go to private schools. He claimed this could reduce state expenditures on K-12 education.
Mr. Brown proposed that the Colorado Commission on Higher Education (CCHE) be eliminated. He discussed the background of the commission and proposed adding a position to the JBC to take on the responsibilities of the commission, most notably the budgeting of money among higher education institutions.
Mr. Brown discussed the role of the Lieutenant Governor position and compensation for the position, and recommended a legislative proposal specifying the role of the position. He also recommended that the limit on out-of-state higher education student tuition be eliminated and he recommended a review of the fiscal rules of the state because they are too complex and cumbersome.
Regarding longer-term changes, Mr. Brown recommended changing the tax on capital gains because it is volatile. He also suggested eliminating Amendment 23 and revisiting the Gallagher Amendment.