Senate approves referral asking voters to let state retain excess revenue for K–12; floor erupts over TABOR and transparency

The Colorado Senate on April 24 adopted a referred measure that would allow the state to retain an amount of revenue equal to one year of K–12 funding and direct a 2% annual increase to public education for the next 10 years while placing remaining excess revenues in a newly named children’s account. Sponsors cast the measure as a voter-directed way to restore long‑promised school funding and shore up teacher pay and classroom supports.

"This measure gives Colorado the chance to invest billions more in our schools over the next decade," said Senator Kevin Bridges, the bill’s sponsor, who argued the measure sets a predictable, accountable stream of state funding that grows with the economy and includes an annual independent audit.

Opponents disputed that framing. They said the measure raises the state’s spending limit and effectively ends the regular TABOR refunds that Colorado taxpayers have received when revenues exceed the constitutional cap. "When you increase the cap, you are increasing taxes," said Senator Pelton, who warned the measure would convert what voters thought were refunds into ongoing state revenue and a large discretionary fund. Multiple senators raised concerns that only a fraction of the potential retained revenue would be directed to the positive factor for schools while the remainder could be spent on other priorities.

The floor debate produced a string of amendments that tightened or clarified parts of the referral language, including limits on uses of the positive factor (restricting it to specified school purposes) and naming of an account to hold excess funds. Sponsors repeatedly said further legislation would be used to define eligible programs for the children’s account; critics argued those follow‑on bills were insufficient consolation because the referral itself creates the new fiscal headroom and would likely prevent future TABOR refunds for many years.

Senators on both sides emphasized accountability. The final measure requires public reporting and an independent audit of how the new investments are spent. Supporters said that combination — a guaranteed, modest annual increase for K–12 plus audits — would let voters decide whether to authorize the change this fall. Opponents warned the ballot question would understate the fiscal impact and urged clearer language so voters understand how much new revenue could be retained and how much would be subject to legislative discretion.

The Senate adopted the referred measure after extended debate and votes on multiple floor amendments; the bill is now prepared for the legislative process that places it on the November ballot for voter approval or rejection. The chamber also adopted related housekeeping amendments to the bill’s statutory language before final passage on the floor. The Senate adjourned after confirming multiple appointments and finishing other business.