HB 1419: Over-Refund of Excess State Revenues

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Section 20 of article X of the state constitution (TABOR) imposes a limitation on the amount of state fiscal year spending. If state fiscal year spending exceeds that limitation, the state is required to refund the amount of state fiscal year spending in excess of that limitation (TABOR refund). Under current law, if the state issues a TABOR refund for a state fiscal year, and the amount of that TABOR refund is greater than the amount of state fiscal year spending in excess of the limitation of state fiscal year spending for the state fiscal year (over-refund), the state reduces the amount of the next available TABOR refund by the amount of the over-refund.     Changes in federal tax policy in 2025 reduced the amount of state tax revenue for the 2025 tax year. Due to when this change in federal tax policy was signed into law, it was not reflected in the amount of state fiscal year 2024-25 spending, even though the change impacted the 2025 tax year. Accordingly, if the state controller certifies in September 2026 that state revenues for state fiscal year 2025-26 did not exceed the limitation on the amount of state fiscal year spending for that state fiscal year, the act directs the office of the state controller, in consultation with the office of state planning and budgeting and the department of revenue, to determine the amount of the over-refund for state fiscal year 2024-25, taking into account the impact on state revenues from the federal tax policy change. No more than one-half of this over-refund can offset future TABOR refunds for any single state fiscal year beginning with the 2026-27 state fiscal year.     $18,021 is appropriated from the general fund to the legislative department for use by the office of the state auditor to implement the act.(Note: This summary applies to this bill as enacted.)

Sponsors

Sponsors by party (alphabetical): Democratic 19

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. June 3, 2026Governor Signed
2. June 2, 2026Signed by the Speaker of the House
3. June 2, 2026Signed by the President of the Senate
4. June 2, 2026Sent to the Governor
5. May 12, 2026House Considered Senate Amendments - Result was to Concur - Repass
6. May 11, 2026Senate Third Reading Passed - No Amendments
7. May 8, 2026Senate Second Reading Special Order - Passed with Amendments - Committee
8. May 8, 2026Senate Second Reading Special Order - Passed with Amendments - No Amendments
9. May 8, 2026Senate Second Reading Special Order - Passed - No Amendments
10. May 6, 2026Senate Committee on Appropriations Refer Amended to Senate Committee of the Whole
11. May 6, 2026Senate Second Reading Special Order - Laid Over Daily - No Amendments
12. May 1, 2026Introduced In Senate - Assigned to Appropriations

Showing 12 most recent of 17 actions. Full history