Revenue reclassification placeholder (SB 2642) increases available General Fund but adds a $2.3M appropriation
Staff told the committee that a revised fiscal note for Senate Bill 2642 reclassifies certain revenue streams and increases General Fund availability by roughly $14.7 million, but the revised fiscal note now requires a $2.3 million appropriation and reduces the TABOR refund by an estimated $308 million in the modeling explained to the committee.
The full story
Craig Harper, JBC staff, described a newly revised fiscal note for the Senate Bill 2642 placeholder that reclassifies specified revenue streams so they would not be subject to TABOR, producing additional General Fund capacity in the committee’s modeling. “The bill is reclassifying specific revenue revenue streams as not subject to TABOR,” Harper said, and he told members the change increases available General Fund by about $14,700,000 in the scenario presented.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
Keep reading for free
Create a free account to finish this story and see the video, transcript and key details.
Continue with GoogleContinue with emailAlready have an account? Log in