Senate approves measure to ask voters to retain TABOR excess for K‑12; fierce floor debate ends 23‑12

The Senate voted 23‑12 on April 27 to send Senate Bill 135 to the ballot, a measure to let the state retain excess TABOR revenue and channel a positive factor for K‑12 education (a 2% annual increase for up to 10 years) rather than returning that surplus as refunds.

Proponents, including Senators Marchman, Cutter and Daniels, urged colleagues to let voters decide whether excess revenues should be invested in education rather than returned as TABOR refunds. Senator Marchman said the refund is "not a guaranteed paycheck" and framed the proposal as asking voters to invest surplus revenue in classrooms and teacher pay. Supporters cited adequacy studies estimating multibillion‑dollar shortfalls in per‑pupil funding and argued the measure would stabilize funding for teacher pay, retention and smaller class sizes.

Opponents said the proposal effectively raises taxes by eliminating refunds and warned the ballot language and statutory mechanics give the legislature latitude to spend retained revenues on broader purposes after the 10‑year period. Senator Bridges argued the measure "raises the cap" and risks eroding the taxpayer protections voters approved in TABOR; Senator Carson and others warned of economic impacts and questioned whether more state revenue would translate to increased teacher pay rather than other priorities.

The Senate recorded the roll call on final passage: 23 yeas, 12 nays. Sponsors plan audits and reporting for the new account, but critics said the enforcement and long‑term limits in the bill were insufficient. The measure now moves toward a fall referendum if the ballot language is certified.