The Colorado Economic Recovery Act: Summary of HB05-1194—Referendum C
On April 18th the Colorado General Assembly approved HB05-1194, which will be sent to the voters in November 2005 as Referendum C. Referendum C is a de-brucing measure that asks voters to temporarily override the current TABOR revenue formula that limits annual growth in state revenues to the rate of change of inflation plus population. With no increase to current tax rates, Referendum C would allow the state to keep and spend the revenue it collects under current rates for the next five years. The measure does not require the governor’s signature but Governor Owens has announced his support for it as part of a package of fiscal reform measures.
Released June 8, 2005