House Republican Bill Would Reinstate State Spending Limit And Create A Rainy Day Fund

DENVER--Republicans in the statehouse yesterday introduced a proposal to reinstate the state spending limit that was repealed without voter approval in 2009.

House Bill 1280 is being sponsored by Reps. Don Beezley, R-Broomfield, and Brian DelGrosso, R-Loveland.

“Coloradans were upset when Democrats in the legislature repealed the long-standing spending limit,” said Beezley. "This proposal reinstates that limit and ensures that Colorado has a prudent spending limit in place."

HB 1280 will reinstate the government spending limit that prevented the state's operating budget from growing more than six percent each year. Democrats repealed that limit despite Republican opposition by Senate Bill 09-228. The proposal also creates a rainy day fund for the state equal to eight percent of the state's operating budget, or General Fund. The fund would be built over time with the revenues above the reinstated spending limit.

"This bill would set a more responsible course for the future and would better serve the needs of our state, particularly during difficult economic times in the future,” said DelGrosso, who chairs the House Finance Committee.

Joint Budget Committee member Jon Becker, R-Fort Morgan, supports the measure.

Becker said. “The budget process this year has been painful, for legislators having to make these difficult decisions and more importantly for citizens who are impacted when our budget has to be reduced so drastically and so suddenly."

###