State budget squeeze tough on lawmakers

0 Comments | Gazette, The (Colorado Springs), Feb 29, 2004 | by KYLE HENLEY THE GAZETTE

Senate Concurrent Resolution 3: Sen. Norma Anderson, R-Lakewood - Changes formula used to calculate spending and revenue caps under TABOR, allowing state to keep an extra $1.2 billion between 2004 and 2009.

Senate Concurrent Resolution 4: Sen. Norma Anderson, R-Lakewood - Would suspend Amendment 23's inflation-plus-1-percent formula during years of economic downturn.

House Concurrent Resolution 1001: Rep. Andrew Romanoff, D-Denver - Allows state to recalculate TABOR formula for past years and defers extra 1 percent in funding from Amendment 23. Allows state to keep about $1.5 billion between 2004 and 2009.

C-Vote: Rep. Keith King, R-Colorado Springs - Allows state to keep $350 million in TABOR surplus dollars and would cut in half Amendment 23 spending requirements for a given period of time. A portion of the money would go to lower taxes for seniors and businesses. The state would retain about $1.5 billion between 2004 and 2009, but education would see expected funding increases reduced by $600 million.

Tom Plant, D-Nederland: Changes TABOR formula to a fixed percent of personal income growth and adjusts K-12 funding requirements of Amendment 23. Frees up $1.5 billion more from 2004 to 2009.

Brad Young, R-Lamar: Changes TABOR formula to fixed percent of personal income growth and adjusts K-12 funding requirements of Amendment 23. Frees up $1.5 billion more from 2004 to 2009.

HOW THINGS STAND

TABOR -- Taxpayer's Bill of Rights approved by voters in 1992. Requires voters to approve tax increases; caps amount of money that government can keep and spend with a formula that considers inflation and population growth.

AMENDMENT 23 -- Measure approved by voters in 2000. Requires state to boost education spending each year for a decade at a rate equal to inflation plus 1 percent. After 10 years, the measure requires state funding for public schools to match inflation. It also requires the state to set money aside in an education trust fund.