Strong general fund growth leads to more money for roads and capital construction
The most recent Legislative Counsel revenue estimate predicts significant General Fund revenue growth in FY 2005-06 with most of that gain benefiting transportation. Chief Legislative Economist Mike Mauer presented the June 2006 quarterly revenue figures to the Joint Budget Committee on Tuesday June 20.1 Mauer’s estimates include more moderate increases for all periods through Fiscal Year 2010-11.
The additional revenue will be kept and used by the state because voters approved Referendum C in November 2005 that sets aside for 5 years the inflation plus population revenue limit contained in the TABOR amendment. The 2005 voter bluebook estimated that the state could keep and use about $3.743 billion over the five years, the June estimates now predicts that number to rise to $4.885 billion.
Released June 20, 2006