Yesterday the bipartisan group, Building a Better Colorado, submitted three fiscal measures for consideration in November.  These measures are statutory (not constitutional) and ask the voters to authorize retention of state revenues.

• #116 eliminates the state revenue cap (and refunds) imposed by TABOR, and directs that 35 percent of the additional revenues be allocated to education (K-12 and higher education), 35 percent to transportation, and 30 percent to services for seniors and mental health services.
• #117 provides a 10 year “time out” from the TABOR revenue limits, and directs the additional funds to be spent in a pattern similar to proposal #116.
• #118 provides a 10 year “time out” from the TABOR revenue limits, and does not specify how the additional funds would be expended.  This would leave flexibility to the legislative budget process.

As the process moves forward, it’s likely that proponents will coalesce around one of the three measures.

For reference, the most recent forecasts estimated the TABOR refunds as reflected below.  The next revenue estimates will be issued on Friday, March 18.

Special thanks to Tomlinson and Associates for this information.