Presented to the Joint Finance Committee on January 5, 2017, meeting.

Colorado receives annual payments from tobacco manufacturers as part of the Tobacco Master Settlement Agreement. In April 2016, the state received $92.3 million. This memorandum presents the distribution of the 2016 payment and forecasts payments through 2019.

Where are we?

• 11.5% lower than the formula
• Local share falling or slowing
• State Education Fund close to depleted
• General Fund budget in cutting mode

How did we get here?

• Business cycle, demographic changes, and constitutional
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Focus Colorado presents forecasts for the economy and state government revenue through FY 2018-19. Implications of the forecast for the state's General Fund budget and spending limit are described in the report's highlights and executive summary sections. The report is based on current law,...