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This memorandum provides background information on current and past statutory mechanisms used to refund state revenue in excess of the spending limit established in the Taxpayer’s Bill of Rights (TABOR). TABOR allows the state to use “any reasonable method” to distribute refunds. 

The General Assembly has created and repealed various mechanisms to refund the state TABOR surplus. In total, 27 refund mechanisms have existed in statute since the passage of TABOR in 1992.

During the 2026 legislative session, the Colorado General Assembly considered a variety of bills related to taxes, finance, and the state budget. 

Focus Colorado presents forecasts for the economy and state government revenue through FY 2027-28. Implications of the forecast for the state's General Fund budget and spending limit are described in the report's highlights and executive summary sections. The report is based on current law, legislation passed by the General Assembly affecting the forecast is described throughout the report.

This issue brief outlines the types of projects and expenses defined as capital construction, the role of the Capital Development Committee (CDC) in overseeing the approval and implementation of capital projects, and funding for capital projects.

This memorandum discusses the oversight and review of capital projects. It defines capital projects and gives a sequential overview of the capital process, including master and program planning requirements, the initial review of capital requests, the role of the Capital Development Committee (CDC) in the review process, and the oversight of projects after an appropriation or spending authority is conveyed.

Fiscal Note Data Reports show the fiscal impact of all legislation currently pending before the General Assembly at the 2026 session, based on the most recent Legislative Council Staff fiscal note. Updated reports will be posted approximately weekly during the legislative session through the General Assembly Box file sharing system at the links below. After session, final data will be posted. Fiscal data is provided in both a sortable Excel and a printable PDF format.

This document lists the LCS Fiscal Analyst assigned to work on the fiscal note for each bill and concurrent resolution introduced at the 2026 session. This list will be updated periodically throughout the session. If you need assistance, contact Bill Zepernick, Fiscal Notes Manager, at bill.zepernick@coleg.gov / 303-866-4777.

Fiscal Note FAQ's

Focus Colorado presents forecasts for the economy and state government revenue through FY 2027-28. Implications of the forecast for the state's General Fund budget and spending limit are described in the report's highlights and executive summary sections. The report is based on current law, legislation passed by the General Assembly affecting the forecast is described throughout the report.

This narrative describes the Legislative Department’s budget proposal for Fiscal Year 2026-27.

This memorandum presents the 2026 Legislative Council Staff forecast for the state public institutions of higher education. The forecast provides projections of resident and nonresident full-time equivalent (FTE) student enrollment for the current year (FY 2025-26) and budget year (FY 2026-27). The forecast also includes projected tuition revenue for FY 2025-26. 

This memorandum answers common questions about how revenue from the marijuana industry fits into Colorado’s state budget. Colorado collected $231.1 million from the marijuana industry in FY 2024-25 primarily from three distinct taxes: 

Pursuant to Section 22-55-104, C.R.S., Legislative Council Staff, in consultation with the State Auditor, the State Treasurer, the Department of Education (CDE), the Office of State Planning and Budgeting, and the Joint Budget Committee (JBC), is required to conduct a review of the model used to forecast revenue to and expenditures from the State Education Fund and the spending requirements for the Public School Finance Act of 2025 by February 1 of each year.

During the 2025 legislative session, the Colorado General Assembly considered several measures related to taxes, finance, and the state budget. Also, the General Assembly considered several bills during the 2025 extraordinary session related to matters of taxes and the state budget. 

Focus Colorado presents forecasts for the economy and state government revenue through FY 2026-27. Implications of the forecast for the state's General Fund budget and spending limit are described in the report's highlights and executive summary sections. The report is based on current law, legislation passed by the General Assembly affecting the forecast is described throughout the report.

This memorandum is intended for use by policymakers, legislative drafters, and budget analysts to understand the different funding mechanisms that may be used in legislation. It describes how different funding mechanisms in legislation impact the state budget and how they are shown in fiscal notes prepared by Legislative Council Staff. These funding mechanisms include appropriations, transfers, diversions, and warrants on state funds, as well as fee revenue and gifts, grants, or donations. The memorandum concludes with a list of funding mechanisms for which voter approval is required.

Legislative Council Staff economic outlook presentation to the Joint Budget Committee.

Focus Colorado presents forecasts for the economy and state government revenue through FY 2026-27. Implications of the forecast for the state's General Fund budget and spending limit are described in the report's highlights and executive summary sections. The report is based on current law, legislation passed by the General Assembly affecting the forecast is described throughout the report.

This forecast update presents forecasts for the economy and state government revenue through FY 2026-27. Implications of the forecast for the state's General Fund budget and spending limit are described in the report's highlights and executive summary sections. The report is based on current law, legislation passed by the General Assembly affecting the forecast is described throughout the report.

Focus Colorado presents forecasts for the economy and state government revenue through FY 2026-27. Implications of the forecast for the state's General Fund budget and spending limit are described in the report's highlights and executive summary sections. The report is based on current law, legislation passed by the General Assembly affecting the forecast is described throughout the report.

Fiscal Note Data Reports show the fiscal impact of all legislation currently pending before the General Assembly at the 2025 session, based on the most recent Legislative Council Staff fiscal note. Updated reports will be posted on this page approximately weekly during the legislative session. After session, final data will be posted. Fiscal data is provided in both a sortable Excel and a printable PDF format. Each report provides a summary of the impact of all pending bills together, and detailed information for individual bills by fiscal year.

This document lists the LCS Fiscal Analyst assigned to work on the fiscal note for each bill and concurrent resolution introduced at the 2025 session. This list will be updated periodically throughout the session. If you need assistance, contact Bill Zepernick, Fiscal Notes Manager, at bill.zepernick@coleg.gov / 303-866-4777.

This memorandum provides information concerning Colorado’s severance tax structure and estimated effective severance tax rates, along with a comparison of effective rates for eight other western oil and gas producing states from 2018 to 2022.

This memorandum presents the 2025 Legislative Council Staff forecast for the state public institutions of higher education. The forecast provides projections of resident and nonresident full-time equivalent (FTE) student enrollment and College Opportunity Fund (COF) FTE enrollment for the current fiscal year (FY 2024-25) and budget year (FY 2025-26). The forecast also includes projected tuition revenue for FY 2024-25.