I think the point Brian makes is that there should be a difference between funding and spending. Wouldn't it be fabulous if a government agency said "Hey, got too much money this year, we're gonna give it back!" Ah well, dreams and lollipops and such
They just did this like 2 weeks ago in CO. I believe everyone who filed a tax return just got a $750 check in the mail. There were 4 in our household.
The result of TABOR (taxpayer bill of rights), one of the most hated laws in Colorado. And one of the first initiatives I remember voting for after moving here from AZ.
There are downsides for sure, but it definitely slowed down the unnecessary growth of government.
My wife says we’ve gotten other smaller refund checks before, but I don’t remember them. I’m wondering if I can expect one every election year.
“The
TABOR Amendment, which was approved by voters in 1992, limits the amount of revenue the State of Colorado can retain and spend.
1 Specifically, TABOR allows the state to retain and spend an amount based on the prior fiscal year's actual revenue or limit, whichever was lower, grown by Colorado inflation and population growth and adjusted for any "voter-approved revenue changes."
Referendum C2, a voter-approved revenue change passed in 2005, allowed the state to retain and spend all revenue collected between FY 2005-06 and FY 2009-10. For FY 2010-11 and all succeeding years, Referendum C allows the state to retain and spend all revenue collected up to the "Referendum C cap," grown by inflation plus population growth from FY 2007-08 revenue, provided that revenue retained in excess of the pre-2005 "TABOR limit base" be spent for certain programs. Surplus revenue in excess of the Referendum C cap must be refunded to Colorado taxpayers. The money is refunded from the state’s general operating fund, known as the “General Fund.”
The TABOR Amendment requires voter approval for tax increases. Fees, which are not addressed in this handbook, can be increased by the state legislature without voter approval. Voter approval is also required to increase the TABOR limit, which constrains state revenue from both taxes and fees.”
Table of Contents The TABOR Amendment, which was approved by voters in 1992, limits the amount of revenue the State of Colorado can retain and spend.1 Specifically, TABOR allows the state to retain and spend an amount based on the prior fiscal year's actual revenue or limit, whichever was lower...
leg.colorado.gov