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CO SB036
Bill
AI Summary
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Eliminates the requirement that the Colorado General Assembly pass an annual joint resolution by February 1 to certify the general fund revenue estimate for the next fiscal year.
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Retains the Governor's responsibility to estimate general fund revenues by June 20 prior to the fiscal year start and by September 20, December 20, and March 20 within each fiscal year, with assistance from the Controller, Office of State Planning and Budgeting, and the revenue-estimating advisory group.
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Requires copies of Governor revenue estimates to be promptly transmitted to the General Assembly but clarifies these estimates are not binding on the Assembly in determining appropriations.
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Updates the state sales tax refund calculation to reference the most recent legislative council estimate of general fund revenues instead of the previous certification process outlined in section 24-75-201.3.
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Designates the act as necessary for immediate preservation of public peace, health, and safety.
Legislative Description
Repeal The Annual Revenue Resolution
Last Action
Governor Action - Signed
1/31/2013