Over-Refund of Excess State Revenues

Summary

The legislation requires the state controller to correct the 2024‑25 spending calculation that was overstated because of the federal H.R. 1 tax law. It then sets a formula for reducing future refunds to match the corrected amount, limiting the reduction to half of the over‑refund each year starting in 2026. The change aims to keep Colorado in compliance with the state constitution’s spending limit.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share