Colorado’s 2015–2016 Budget and Economic Outlook

Abstract

By most metrics, Colorado’s economy continues to recover from the recession. State revenues have reached the point where tax refunds mandated under the Taxpayer’s Bill of Rights (TABOR) are a distinct possibility. Governor Hickenlooper’s 2015–2016 budget is generally in line with his previous budgets, while including contingency plans for TABOR rebates. The legalization of recreational marijuana has provided the state with a new revenue stream, although taxes and fees collected in 2014 fell short of initial projections.