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SB 228 - Repealing the General Fund Spending Cap - Colorado Key Vote

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NOTE: THE LEGISLATURE PROVIDES ITS MEMBERS WITH THE OPPORTUNITY TO BOTH VOTE ON WHETHER TO CONCUR WITH THE OPPOSING CHAMBER'S AMENDMENTS AND, IF THE CONCURRENCE VOTE SUCCEEDS, VOTE TO REPASS THE BILL AFTER THE AMENDMENTS ARE INCORPORATED. THIS IS A VOTE ON REPASSAGE OF THE BILL AFTER THE MEMBERS CONCURRED WITH THE OPPOSING CHAMBER'S AMENDMENTS.

NOTE: THIS VOTE RECONSIDERS A PREVIOUS VOTE.

NOTE: THE LEGISLATURE PROVIDES ITS MEMBERS WITH THE OPPORTUNITY TO BOTH VOTE ON WHETHER TO CONCUR WITH THE OPPOSING CHAMBER'S AMENDMENTS AND, IF THE CONCURRENCE VOTE SUCCEEDS, VOTE TO REPASS THE BILL AFTER THE AMENDMENTS ARE INCORPORATED. THIS IS A VOTE ON REPASSAGE OF THE BILL AFTER THE MEMBERS CONCURRED WITH THE OPPOSING CHAMBER'S AMENDMENTS.

See How Your Politicians Voted

Title: Repealing the General Fund Spending Cap

Vote Smart's Synopsis:

Vote to pass a bill that repeals the 6 percent cap on increases in General Fund appropriations over the previous fiscal year and replaces it with a cap equal to 5 percent of Colorado personal income beginning July 1, 2009, and repeals the automatic transfer of funds in excess of that cap to the Highway Users Tax Fund and Capital Construction Fund for transportation projects beginning January 1, 2010, while guaranteeing a specific amount of General Fund revenue to those funds for fiscal years 2012-2013 through 2016-2017.

Highlights:

-Requires the State Treasurer to transfer the following amounts from the General Fund to the Highway Users Tax Fund and Capital Construction Fund depending on the fiscal year (Sec. 13):

    -2 percent of General Fund revenue to the Highway Users Tax Fund and 0.5 percent of General Fund revenue to the Capital Construction Fund for fiscal years 2012-2013 through 2013-2014; and -2 percent of General Fund revenue to the Highway Users Tax Fund and 1 percent of General Fund revenue to the Capital Construction Fund for fiscal years 2014-2015 through 2016-2017.
-Specifies that the above transfer of 2 percent of General Fund revenue to the Highway Users Tax Fund and 0.5 percent of General Fund revenue to the Capital Construction Fund for fiscal year 2012-2013 is contingent upon Colorado personal income increasing by at least 5 percent from the previous fiscal year, and if not, the transfer shall be made in the next fiscal year during which Colorado personal income increases by at least 5 percent and the remaining transfers shall also be delayed accordingly (Sec. 13). -Specifies that the legislature has discretion over the transfer of General Fund revenue to the Highway Users Tax Fund and Capital Construction Fund after fiscal year 2016-2017, unless the transfers are delayed (Sec. 13). -Increases the amount of funds required to be retained as a reserve from 4 percent of the amount appropriated for expenditure from the General Fund to 4.5 percent in fiscal year 2012-2013, 5 percent in fiscal year 2013-2014, 5.5 percent in fiscal year 2014-2015, 6 percent in fiscal year 2015-2016, and at least 6.5 percent for fiscal year 2016-2017 and each fiscal year thereafter (Sec. 8). -Specifies that the above requirement that 4.5 percent of General Fund expenditures be retained as a reserve for fiscal year 2012-2013 is contingent upon Colorado personal income increasing by at least 5 percent from the previous fiscal year, and if not, the requirement shall be met in the next fiscal year during which Colorado personal income increases by at least 5 percent, and the remaining requirements for retaining funds as a reserve for future fiscal years shall also be delayed accordingly (Sec. 9).

Full Bill Text

See How Your Politicians Voted

Title: Repealing the General Fund Spending Cap

Vote Smart's Synopsis:

Vote to pass a bill that repeals the six percent cap on increases in General Fund appropriations over the previous fiscal year and the automatic transfer of funds in excess of that cap to the Highway Users Tax Fund and Capital Construction Fund for transportation projects beginning July 1, 2009.

Highlights:

-Specifies that the legislature has discretion over the transfer of General Fund revenue to the Highway Users Tax Fund and Capital Construction Fund beginning with fiscal year 2009-2010 (Sec. 15).

Full Bill Text

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