The Senate Finance Committee advanced SB 26-135, a measure referring K-12 education funding to the November 2026 ballot by allowing the state to retain revenue above the TABOR cap, passing it to Appropriations 6-3 over sharp objections that the ballot language is deceptive and would permanently eliminate TABOR refunds.
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Natalie Menton (TABOR Foundation) argued 'the proposed ballot question does not clearly state that TABOR refunds would be eliminated forever' and does not disclose the scale of fiscal impact; Kim Munson cited the fiscal note showing '$817 million in refunds vanish in year one' and that 'after 10 years every dollar of retained revenue goes wherever the legislature decides'; Brandon Wark pointed specifically to page eight, section C of the bill allowing money to be spent 'for any other purpose' after required appropriations, arguing this is not reflected in the ballot title. Sponsors Senator Bridges and Senator Kipp maintained the bill does exactly what TABOR requires by asking voters, and that the positive factor is kept discrete from total program with annual audits ensuring accountability.
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“I work a full time job and two part time jobs. I live in public housing. I cannot afford my own district's health insurance for my children. My wife is disabled. Medicare is the only reason we can afford her medicine. One medical crisis could destroy us. I wake up at night terrified of the bills.”
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Sign in to subscribeFinance will come to order. Ms. Rudebush, will you please call the roll here? Excused, excused. Here. Yep. Here, here, here. We have Senate Bill 135 ahead of us. Who would like to start? Senator Bridges. Thank you, Madam Chair. Colorado is trying to fund a 21st century education system under a fiscal cap written in 1992. And every year on the Joint Budget Committee, we feel the consequences. We make choices no one should have to make between classrooms and health care. Not because Colorado is failing, but because the rules we operate under haven't kept up with reality. Taber says we want to do more. We ask the voters. So that's what this bill does. It simply asks Coloradans a question. Do we want schools funded near the bottom of the country, or do we want schools that lead the nation? Because right now, Colorado ranks near the bottom nationally in what we invest in K12 public education. Not because Colorado doesn't value education. It's because our constitution artificially restricts our ability to invest in it. Colorado students are producing incredible results. Our teachers do heroic work every single day. Yet Colorado has some of the lowest paid…
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