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60-61-101 Drains resources from K-12 schools and

60-61-101 Drains resources from K-12 schools and FROM Essential Colorado services and infrastructure. What Kind Of Colorado Do You Want?. In a nutshell. 3 Proposals on 2010 Ballot

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60-61-101 Drains resources from K-12 schools and

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  1. 60-61-101 Drains resources from K-12 schools and FROM Essential Colorado services and infrastructure What Kind Of Colorado Do You Want?

  2. In a nutshell 3 Proposals on 2010 Ballot • Prop 101: Significantly reduces local and state support for public services, in particular transportation and K-12 education • A60: Overturns prior local elections, cuts local support for schools, charges new taxes on many public services • A61: Restricts common-sense investment in our infrastructure and ability to manage finances

  3. IMPACT on state • Sold as tax relief, but really these are job killing, recession extending and class-size expanding measures • State will lose $2.1 billion annually AND will need to make up $1.6 billion in lost local revenue for K-12 • Local governments will lose $3.8 billion per year when the measures are fully in place • Total fiscal impact on state and local governments would be $6.3 billion • 70,000 direct job losses; 8,000 teacher job losses • Amendment 61 will lead to $2.06 billion in lost public financing at the state and local level • And that’s just the beginning

  4. Impact of the 3 Proposals on Schools • Public K-12 schools will lose $1.6 billion in local funding as a result of slashed property taxes • 8,000 teacher jobs cut = larger class sizes • All other essential state services will be cut by 99% if the state replaces lost local funds • State officials have validated a district-by-district analysis of K-12 impacts across the state—we will see cuts of 37-62 percent from per pupil funding from local sources. • More information at www.lookingforwardcolorado.com

  5. If 60-61-101 pass…fiscal chaos • By law, K-12 should consume 99% of the state general fund—it would be “anarchy” according to Representative Carole Murray

  6. FY 2009-10 General Fund AppropriationsTotal $7.4 Billion(Legislative Council) Other 4% Big 6 Judicial 5% Higher Education 9% Human Services 9% Education 43% Corrections 9% Health Care Policy 21%

  7. Colorado is already behind the average by $1,919 in the most recent study* (2010) *2010 Education Week Quality Counts $1,919

  8. Amendment 60 • Includes several major changes in property-tax policy including: • Enacts a 50 percent reduction in school district mill levies with a required State backfill—an approximate $1.2 billion current-year equivalent • Requires enterprises and authorities to pay property taxes • Repeals local property tax “de-Brucings”—taking away local voter decisions about tax issues • Limits future property tax increases to 10 years • Amends the Taxpayer Bill of Rights (TABOR) portion of the Colorado Constitution

  9. Amendment 61 • Prohibits all levels and divisions of government from bonding, lease-purchase, revenue anticipation, etc., even if they have the authority to do so now • Exceptions limit local voter-approved borrowing to a maximum 10 years • State of Colorado borrowing is prohibited • Changes local borrowing limits to a fraction of the currently allowed maximums • Additionally, requires a tax cut equivalent to the average annual repayment of any loan that is paid off • Will have a serious fiscal impact on the State of Colorado and many local agencies • For example, when TRANS bonds are paid off, CDOT will then lose $168 million of gas tax revenue used to repay those bonds • Amends the Taxpayer Bill of Rights (TABOR) portion of the Colorado Constitution

  10. Proposition 101 • Reduces several revenue streams including: • Eventual reductions in the Colorado state income tax rate to 3.5 percent from the current 4.63 percent— • approximate $1.2 billion current-year equivalent • Elimination of the specific ownership tax on vehicles—approximate $500 million cut to local schools • and other local revenue • Reduction of vehicle registration fees to $10—about a $375 million cut to state and local road and • bridge funds • Additionally, 101 may trigger a loss of about $535 million in Federal Medicaid payments to Colorado • Amends the Colorado Revised Statutes—not the Colorado Constitution

  11. What can you do? • Get informed about the issues • www.donthurtcolorado.org • www.lookingforwardcolorado.com • Work on your own personal time to share your perspectives with friends, neighbors, community groups and others • Activate your social networks • Make a contribution

  12. Questions?

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