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Amendment 59:
Education Funding and Ending TABOR Rebates










Summary

Amendment 59 would mandate that all surplus revenue above the Taxpayer’s Bill of Rights (TABOR) limit be transferred to the State Education Fund to finance P-12 education rather than be refunded to Colorado taxpayers.

This measure would also create a savings account within the State Education Fund. Money within this fund can only be used for P-12 education.

Beginning in 2011, Amendment 59 would permanently eliminate the possibility of a tax rebate to Colorado families. In addition to the TABOR spending limit, the state has a yearly limit on spending for most state programs. Any money the state has above this limit is spent on transportation and to build and maintain state buildings. Amendment 59 allows the legislature to take this money and transfer it to the State Education Fund following specific procedures.

The Colorado Legislative Council states in their fiscal impact report that transfers into the State Education Fund will result in a dollar-for-dollar decrease in spending on transportation and capital construction projects.



Position:  Vote NO
Provided by: Legislative Council of the Colorado General Assembly
Amendment 59 proposes amending the Colorado Constitution to:

  • eliminate rebates that taxpayers receive when the state collects more money than it is allowed, and spend the money on preschool through 12th grade (P-12) public education;

  • eliminate the required inflationary increase for P-12 education spending; and

  • set aside money in a new savings account for P-12 education

Amendment 59 will permanently eliminate all future TABOR rebates to Colorado families. When economic times improve, the state will be able to keep and spend all the surplus revenue. Without a limit on spending, government is more likely to increase its size and have less accountability for educational improvement than it has today.

There is no direct correlation between increased educational spending and better educated students. In fact, many of the states which have the highest educational spending have the lowest academic achievement.

The legislature will have less discretion in allocating the state budget if Amendment 59 passes because of the mandated saving and spending provisions.


RMFC position:
VOTE XX
Vote NO
RMFC position:
Vote NO