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Polis is proposing a state budget about a billion dollars bigger than last year’s, and it could fully fund Colorado schools for the first time in 14 years.
DENVER — Gov. Jared Polis on Wednesday sent his proposal for next year’s state spending to the Joint Budget Committee, seeking funds that, after 14 years, will finally pay off the debt to K-12 schools.
The overall budget proposal from Polis seeks $43.5 billion, including $18.4 billion in general fund dollars. That does not include $2.5 billion in placeholders for Taxpayer’s Bill of Rights refunds and capital construction, as well as a $200 million “hold” for Proposition HH.
That’s an increase of 4.86%, according to the Office of State Planning and Budgeting. Last year, the request from Polis stood at $42.7 billion in total funds, counting money from federal dollars, general funds from tax collections and cash. Of that, $16.7 billion came from general fund dollars.
Recent revenue forecasts show Colorado lawmakers may have more breathing room than expected for the fiscal year 2024-25 budget year, despite a projected decline in tax collections.
> Read the full story on Colorado Politics
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