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Staff Publications

History of TABOR Refund Mechanisms (2015)

Subjects
State Revenue & Budget
Fiscal Policy & Taxes
Published
10/20/2015

This memorandum provides background information on current and past statutory mechanisms used to refund state revenue collected in excess of the spending limit contained in the Taxpayer’s Bill of Rights (TABOR). TABOR allows the state to use “any reasonable method” for refunds, including temporary tax credits or rate reductions.

The General Assembly has created and repealed various mechanisms to refund the state TABOR surplus. In total, 20 refund mechanisms have existed in statute at some point. Seventeen of these have been repealed, and three remain in law as of the end of FY 2014-15. Table 1 on page 9 provides a history of the mechanisms used to refund all TABOR surpluses collected to date.

Pursuant to HJR20-1007, the Second Regular Session of the 72nd General Assembly is Temporarily Adjourned until 10:00 a.m., Monday, March 30, 2020. 

COVID-19 Resources

Temporary Guidelines for Review and Comment Meetings

The legislature will meet in limited session on Monday, March 30th. The Capitol will be open for the duration of the session for those with essential business related to the session. The building will not be available for public tours. People without essential business are encouraged to access the session through the General Assembly website and Colorado Channel.  Anybody with essential business related to the session will be required to practice appropriate social distancing measures.