CO SB065

Prohibits political subdivisions (counties, municipalities, special districts, and school districts) from pledging business personal property tax revenues to pay bond interest, principal, or other multi-year debt obligations requiring voter approval, effective September 1, 2014

Applies to all types of bonds and any other multiple-fiscal year direct or indirect debt or financial obligations that require voter approval under Article X, Section 20(4)(b) of the Colorado Constitution

Takes effect 90 days after the general assembly adjourns (August 6, 2014, if sine die is May 7, 2014), subject to referendum petition

If a referendum petition is filed within 90 days, the act will not take effect unless approved by voters at the November 2014 general election