Senate President Peter Groff (D-Denver) has accepted an appointment with the Obama administration and will be resigning effective May 8.  On April 17, the Senate Democrats unanimously elected current Majority Leader Brandon Shaffer (D-Longmont) as the new Senate President.  Senator John Morse (D-El Paso County) will become the new Majority Leader.

 

Also, Senator Jennifer Veiga (D-Denver) recently announced that she will be resigning her seat at the end of the session in order to move to Australia.

 

Finally, Senator Jim Isgar (D-Hesperus) is rumored to be in line for a federal appointment and, if appointed, would be resigning his seat.

The Sixty-Seventh General Assembly of the State of Colorado 

is nearly ready to adjourn.  There is slightly more than two and one-half weeks left in the 2009 session.  Statehouse regulars are predicting, however, that the legislature will be back in special session to deal with the budget in late June or July.

 

On Friday, March 20, the quarterly revenue forecasts were presented by the Governor's Office of State Planning & Budgeting and by the Office of Legislative Council.  These forecasts will be the basis of any further budget corrections necessary for the FY 2008-09 budget and as a basis for the FY 2009-10 budget which has now been embodied as SB 09-259.  The Senate passed the bill last week and then the House passed the bill on 3rd reading on Friday, April 17.

 

The Legislative Council forecast showed a revenue shortfall of $586 million in FY 2008-09, a decrease of $289.5 million from the December 20, 2008 forecast.  In all, general fund revenue will drop $812 million for FY 2008-09 from FY 2007-08 (-10.5%).  In FY 2009-10, revenues are expected to drop an additional $98 million (-1.4%).  The primary reason for the drop in general fund revenues is a decrease in income taxes, primarily individual income taxes.

 

As part of the budget balancing proposed by the JBC, $300 million was to be cut from the general fund appropriation to higher education.  This would have been nearly a 50% cut in funding to the state's colleges and universities.  However, the JBC introduced SB 09-273, which would have transferred $500 million of surplus from Pinnacol Assurance Company, and SB 09-281, which would clarify that Pinnacol is an agency of state government.  The introduction of SB 273 immediately raised a loud and active outcry from both Pinnacol and the business community and ultimately it was defeated.  SB 281 has passed the Senate and is now awaiting hearing in the House.

 

• Utilization of $60 million in tobacco settlement funds;
• Borrowing $35 million from the Arkansas Valley Conduit Project;
• Transfer of $25 million from the state's unclaimed property fund to the general fund;
• Mandatory 8-day furlough of state employees, saving about $15 million;
• Transfer federal stimulus (ARRA) funds of about $20 million;
• Use about $28 million from the State Education Fund to pay for remedial training in higher education;
• Reduce fees paid to Medicaid service providers by nearly $60 million;
• Transfer from College Invest fund of $15 million;
• Reduction of private prison provider rates and other adjustments within DOC of about $7 million;
• A variety of other smaller reductions in spending.

Remember that you can listen to live audio broadcasts of the floor sessions and committee meetings through links on the home page of the Colorado General Assembly.  If you have access to Comcast cable television, the floor sessions of the Colorado House are broadcast live and then repeated frequently on Channel 165.
 

HB 09-1001, Concerning an Income Tax Credit for Colorado Job Growth.  The bill has now passed the Senate and is awaiting concurrence with Senate amendments in the House.  It will then be on the Governor's desk for his signature. The EDCC Board has endorsed this bill.

HB 09-1010, Concerning Film Production in Colorado, passed from the House and will be heard in the Senate State Affairs Committee this week.  The EDCC Board has endorsed this bill.

HB 09-1035, Concerning Clean Tech Medical Device Tax Refund, has passed from the House and is awaiting hearing in the Senate Finance Committee. The EDCC Board has endorsed this bill.

HB 09-1105, Concerning Innovation Investment Tax Credit, passed from the House and is awaiting hearing in the Senate. The EDCC Board has endorsed this bill.

SB 09-031, Concerning Clean Tech Research Grant Program  is awaiting the Governor's signature.  The EDCC Board has endorsed this bill.

SB 09-067, Concerning the Colorado Credit Reserve Program  has passed from the Senate and the House Appropriations Committee. The EDCC Board has endorsed this bill.

SB 09-076, Concerning Employment and Training Technology has passed the Senate and is awaiting hearing in the House Appropriations Committee. The EDCC Board has endorsed this bill.

The Board of the EDCC has voted to support a number of bills this year.  We have been actively working with legislators for successful passage of legislation that will stimulate the economy and put Coloradans back to work, or keep them in their jobs.  The weekly update on legislation that is being monitored or actively lobbied by EDCC is available online at EDCC Legislative Update.  We have identified those bills that the EDCC Board has taken formal positions on.  Please remember to bookmark this website and then you can check the status of any of the bills at any time, with real-time updates.  We hope that this bill-tracking service provided to you by EDCC is of value.  If there are bills that are not included but you feel should be, please contact dtomlinson@msn.com with the bill number.  Thanks! 

 

The Colorado Economic Leadership Coalition (CELC) normally meets on the 2nd Friday of each month during the legislative session, at a location near the State Capitol.

 

The CELC met on January 16 at the Colorado Municipal League.  Notes from that meeting are available.