HB 20-1416 Summary

• Replaces the "abstract" of initial fiscal impact statements with a shorter "fiscal summary" for initiative petitions, to be prepared by the Legislative Council director before petition circulation begins.

• Fiscal summary must include measure description, preliminary fiscal impact estimate, qualitative economic impacts, implementation information, and a statement directing voters to www.ColoradoBlueBook.com for full details.

• Director must provide fiscal summary to proponents and Secretary of State no later than the title board meeting; title board cannot hold a hearing on it and cannot modify it except through the established rehearing process.

• Fiscal summary becomes final unless modified through rehearing procedures, and is not subject to review by title board or Colorado Supreme Court.

• Reduces Legislative Council appropriation by $7,865 (0.1 FTE) for the 2020-21 fiscal year; takes effect November 1, 2020, subject to referendum petition.