Senate Bill 26-042 Introduced

LLS NO. 26-0419.01 Nicole Myers x4326
Second Regular Session
Seventy-fifth General Assembly
State of Colorado

Senate Sponsorship

Weissman and Amabile,

House Sponsorship

Zokaie and Sirota,


Senate Committees

Finance

House Committees

No committees scheduled.


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Senate Amendment
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A Bill for an Act


Bill Summary

(Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://leg.colorado.gov.)

Section 20 of article X of the state constitution (TABOR) defines "fiscal year spending" as excluding "collections for another government" and "damage awards". Although TABOR does not define either "collections for another government" or "damage awards", the TABOR implementing statutes define both terms. The bill clarifies both of these definitions for state fiscal years commencing on or after July 1, 2025.

The bill clarifies that "collections for another government", as used for the purpose of determining whether specific money received by the state is subject to the TABOR limitation on state fiscal year spending, includes revenue from the excise tax on gasoline used as fuel for the propulsion of specified aircraft collected by the state and distributed to governmental or airport entities operating an FAA-designated public use airport.

The bill also clarifies that "damage award", as used for the purpose of determining whether specific money received by the state is subject to the TABOR limitation on state fiscal year spending, includes certain civil fines and penalties imposed by the state.