Denver November 2005 Election
Denver voters will have a chance to vote on the State's budget fix this November, according to the Rocky Mountain News [March 18, 2005, "Budget fix faces tough voter test"]. From the article, "A bipartisan posse of lawmakers announced a budget deal at the state Capitol Thursday morning and said the state's colleges, health care and economy hang on whether voters accept it."
The Rocky Mountain News editorial staff weighs in on the budget fix [March 18, 2005, "Budget deal the right fix"]. They write, "Voters would actually face two issues on the ballot in November if the compromise is accepted by the legislature. The main measure would authorize the de-Brucing; the second would authorize the issuance of the $1.7 billion in bonds. By the way, the bonds could not be issued unless approved by voters along with the de-Brucing proposal. But if the bonds are rejected, the de-Brucing could proceed alone if it's approved."
Here's the coverage from the Denver Post [March 18, 2005, "Owens, Democrats urge approval of budget deal"], From the article, "Under the plan, the state would keep all the revenue collected for five years, which comes to about $3.1 billion more than it's allowed to keep under current TABOR limits. In year six, the state will keep $100 million more than TABOR allows to help repay a $1.7 billion bond. That bond would include money for the Police and Fire Pension Fund, K-12 school construction and transportation. The deal leaves room for other items to be added if both Owens and legislative leaders agree. Also in year six, a temporary tax cut would kick in if there were sufficient TABOR refunds to taxpayers. If TABOR refunds were to dry up, so would the tax cut."
Here's the reaction from the Denver Post editorial staff [March 18, 2005, "Fiscal compromise is a fair plan for Colorado"].
Update: American Kestrel: "State legislators from Boulder County said Thursday that a budget compromise they've worked out with Republican Gov. Bill Owens represents a major step toward Colorado's future fiscal solvency."
5:48:42 AM 
|
|
