Colorado lawmakers getting economic forecast

By: Associated Press Email
By: Associated Press Email

DENVER (AP) Colorado's economy continues to improve. Now lawmakers are beginning to talk about constitutionally mandated refunds to taxpayers in the coming years.

Taxes from the state's new recreational marijuana industry were also part of the mix when state economists released the Colorado revenue projections Tuesday. The economic figures will play a role when lawmakers debate and vote on next year's budget next month.

The governor's economists projected that general fund revenue for the 2014-2015 fiscal year will be $9.5 billion. The current fiscal year revenue projection is $8.8 billion. Some of that surplus is already spoken for with the state's savings account for education.

Legislative economists released similar projections.

Refunds under the Taxpayer's Bill of Rights are not expected next year, but economists say they're possible soon.

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