HB10-1390 Summary

• Allows the governor to reduce the general fund reserve below 4% for fiscal year 2010-11 if the June 2010 revenue estimate indicates general fund expenditures will exceed available revenues.

• The reserve may be reduced to a minimum floor of 2% upon written gubernatorial order, but cannot fall below that threshold.

• The reduction may only be used to cover general fund appropriations for which revenues would not otherwise be available.

• Adds fiscal year 2010-11 as an exception to the standard 4% reserve requirement in Colorado Revised Statutes Section 24-75-201.1.

• Includes a safety clause declaring the act necessary for immediate preservation of public peace, health, and safety.