SB14-085 Summary

• Requires a 1% reduction in state fiscal year 2014-15 appropriations for the legislative branch, judicial branch, and each executive department compared to fiscal year 2013-14

• State agencies must reduce spending from continuously appropriated cash funds by at least 1% from fiscal year 2013-14, excluding cash funds created during 2014-15

• State agencies must reduce spending of federal funds by at least 1% from fiscal year 2013-14 spending of the same federal fund types, excluding newly received federal funds in 2014-15

• The Department of Revenue must refund an amount equal to the total state spending reduction to taxpayers through the sales tax refund mechanism for the 2014 taxable year

• The statute expires and is repealed effective July 1, 2016