SB12-168 Summary

• Suspends the initial reserve requirement (set by SB09-228) until Colorado personal income increases by at least 5 percent year-over-year, starting with calendar year 2011.

• During suspension, the unrestricted general fund year-end balance requirement is reduced to 4 percent of appropriated expenditures instead of the higher initial requirement.

• The personal income trigger determination uses Bureau of Economic Analysis estimates: the first available estimate for the later calendar year and the revised estimate available at the same time for the earlier calendar year.

• Other reserve requirements (subparagraphs XIII, XIV, XV, XVI) and required transfers are each suspended for the same number of fiscal years that the initial reserve requirement suspension lasts.

• Initial reserve requirements and transfers resume in the first fiscal year beginning after the personal income trigger occurs.