Date: 07/08/2009

TABOR and Referendum C Overview


Votes: View--> Action Taken:

02:19 PM -- TABOR and Referendum C Overview

Ms. Kate Watkins, Legislative Council Staff, introduced herself and summarized the provisions of TABOR. A copy of legislative staff's memorandum entitled "State Spending Limitation: TABOR and Referendum C" is located on the commission's website.

Ms. Watkins explained the TABOR limit calculation and how Referendum C allows the state to retain surplus funds in excess of the TABOR limit. Ms. Watkins also discussed the five-year time-out period. She explained the different types of revenue subject to TABOR as well as the TABOR exempt funds, enterprises, and other funding sources. She explained that TABOR surpluses were previously refunded through a variety of sources, but that under Referendum C, the surplus revenue was retained. Ms. Watkins also showed categorically how Referendum C revenue has been spent.