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Tag: State Budget

Colorado lawmakers debate when, how to fund $350M voter-approved public safety mandate
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coloradopolitics.com, State

Colorado lawmakers debate when, how to fund $350M voter-approved public safety mandate

By Marianne Goodland | Colorado Politics Colorado lawmakers are scrambling to figure out exactly how to carry out voters' approval of a ballot measure that directs the General Assembly to put $350 million into a fund to help recruit, train, and retain local law enforcement. The measure did not specify a timeline for when the money must be allocated or whether it's a yearly allocation. Lawmakers are grappling with those questions as the state's budget crafters are seeking money anywhere, given that the state faces a $1 billion shortfall. READ THE FULL STORY AT COLORADO POLITICS
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Gov. Polis proposes shielding funding for major water programs as state’s $1 billion deficit looms
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State, The Colorado Sun

Gov. Polis proposes shielding funding for major water programs as state’s $1 billion deficit looms

By Jerd Smith | The Colorado Sun Colorado’s largest water agency may be shielded from significant funding cuts as the state addresses its financial woes, under the 2025-26  budget proposed by Gov. Jared Polis. The Colorado Water Conservation Board would see a $6.9 million increase in the next fiscal year, which begins July 1, rising from $98.1 million in revenue this year to $105.1 million, according to the governor’s office. But in 2026, funding would drop to $97.6 million due to a decline in severance tax revenue, which is derived in part from oil and gas production and is a key part of the CWCB’s funding. READ THE FULL STORY AT THE COLORADO SUN
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Proposed state budget could cut $110 million from already pothole-laden highways
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State, The Sum & Substance

Proposed state budget could cut $110 million from already pothole-laden highways

By Ed Sealover | The Sum & Substance Colorado’s ability to build and fix the highways that are key to transporting goods and people could take a $110 million hit in the next fiscal year under budget-balancing proposals being offered by Gov. Jared Polis. The two-tiered reductions — a permanent cut of $65 million per year and a short-term cut of $49 million in other funds — are part of $638 million in expenditure cuts and revenue boosts Polis has suggested to deal with rising Medicaid costs and falling inflation. And while officials acknowledge that such spending rollbacks must happen somewhere in the budget, both legislators and Colorado Transportation Commission members warn these cuts could be particularly deleterious for transportation safety. READ THE FULL STORY AT THE SUM...
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Colorado Gov. Jared Polis, lawmakers spar over proposed budget
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coloradopolitics.com, State

Colorado Gov. Jared Polis, lawmakers spar over proposed budget

By Marianne Goodland | Colorado Politics The Colorado legislature's budget drafting body, stung by criticism from the governor over hiking Medicaid provider rates last spring higher than what he wanted, bit back when Gov. Jared Polis met with the committee last week to discuss his 2025-26 budget proposal. Gov. Jared Polis and members of the Joint Budget Committee sparred over the size of his proposed cuts. Polis effectively argued that his proposal responsibly makes budget reductions, while lawmakers questioned his decision to fund projects or services — such as landscaping for the governor's mansion — when the state is practically in "recession" mode when it comes to budgeting.       A veteran legislator said the governor's budget proposal is no...
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Colorado ends budget year $164M in the red with potential tax cuts looming on November ballot
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State, The Colorado Sun

Colorado ends budget year $164M in the red with potential tax cuts looming on November ballot

By Brian Eason | The Colorado Sun The state of Colorado will end its budget year June 30 with a deficit of as much as $164 million, forcing it to dip into its reserves as it heads into an election cycle fraught with financial uncertainty. And the budget picture only deteriorates from there, according to revenue forecasts provided to the Joint Budget Committee on Thursday. Next fiscal year, which starts July 1, the state will start in a $35 million to $86 million hole that budget writers would have to close during midyear budget adjustments, which take place each year in January. That leaves little wriggle room if something unexpected happens in the meantime, like an uptick in health care costs or a slowdown in tax collections. READ THE FULL STORY AT THE COLORADO SUN
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Colorado owes taxpayers $34M in refunds it never sent. That means trouble for the state budget. 
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State, The Colorado Sun

Colorado owes taxpayers $34M in refunds it never sent. That means trouble for the state budget. 

By Brian Eason | The Colorado Sun The state government owes Colorado taxpayers an extra $34 million in refunds it should have sent out years ago, legislative budget staff told lawmakers Friday, blowing a hole in the state’s budget with just days left in the 2024 legislative session. The error was first uncovered by a state audit released in February. State officials had planned to come up with a solution by June, but after conferring with the Colorado Attorney General’s Office, Joint Budget Committee staff members say the matter can’t wait until after the session. “We really don’t have any choice,” JBC Director Craig Harper told the budget writing committee Friday. “That’s an under-refund from prior years and will need to be refunded at the earliest available opportunity.” ...
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Gov. Polis signs Democrats’ $40.6 billion state budget containing $2 billion more in spending
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coloradopolitics.com, State

Gov. Polis signs Democrats’ $40.6 billion state budget containing $2 billion more in spending

By Marianne Goodland | Colorado Politics Gov. Jared Polis on Monday signed the state's $40.6 billion budget for the next fiscal year, which includes $2 billion more in spending. "This bipartisan budget builds a stronger, brighter, and safe future for Colorado where we invest in students, have housing people can afford near work and transportation options, and live in safer communities," the governor said in a statement. There was less money available for this budget than in previous years, noted Joint Budget Committee Chair Rep. Shannon Bird, D-Westminster. "But the hallmark of a good budget, is that no matter how much you have, you're listening to your constituents ... prioritizing the funds you have to meet the moment," Bird said.  READ THE FULL STORY AT COLORADO POLITICS
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Colorado’s $40.6 Billion budget is nearing final passage. Here’s what’s in it.
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State, The Colorado Sun

Colorado’s $40.6 Billion budget is nearing final passage. Here’s what’s in it.

Brian Eason | The Colorado Sun After weeks of debate and over two dozen amendments, Colorado budget writers Wednesday put the finishing touches on a $40.6 billion budget that increases spending on state workers, health care services, K-12 and higher education. But the spending plan leaves a number of unanswered questions for the final month of the legislative session — including how the Democratic majority will pay for property tax cuts, a major priority for Gov. Jared Polis and top lawmakers. The budget for the 2024-25 fiscal year, which starts July 1, still has a few procedural hurdles to go, but no further changes are expected. The Joint Budget Committee on Wednesday rebalanced the budget after the House and Senate passed different versions over the last two weeks. READ THE ...
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Colorado lawmakers adopt cuts, hard choices as state faces $170 million budget shortfall
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coloradopolitics.com, State

Colorado lawmakers adopt cuts, hard choices as state faces $170 million budget shortfall

By Marianne Goodland | Colorado Politics Between March 15 and March 21, the six members of the Joint Budget Committee — the group of lawmakers in charge of drafting Colorado's spending plan — found themselves with a problem. With just over a week before the introduction of the state's 2024-25 budget, new revenue forecasts showed they had a hole to plug, with estimates ranging from $160 million to $225 million, depending on which forecast was used. Unlike the federal government, Colorado's budget drafters must come up with a balanced budget. READ THE FULL STORY AT COLORADO POLITICS
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