HB 18-1430 Summary

• Requires each state agency that submits a budget request to the Joint Budget Committee to develop and annually update a long-range financial plan beginning November 1, 2019.

• Long-range financial plans must include the agency's mission, major functions, performance goals, performance evaluations, anticipated trends or conditions affecting goals, and programs relying on federal or donated funds that may require state backfill.

• Plans are intended to help agencies anticipate contingencies, prepare budget requests, inform legislative appropriations decisions, and provide public notice about potential growth or decline of state government.

• Requires submission of long-range financial plans to the Joint Budget Committee along with annual budget requests and simultaneous posting on agency websites.

• The act took effect August 8, 2018, subject to referendum petition approval by Colorado voters in November 2018.