By Marianne Goodland | Colorado Politics
Lawmakers on Monday introduced in the state Senate the legislation setting up the 2025-26 budget, which contains hundreds of millions of dollars in funding cuts, transfers and sweeps.
The spending plan comes in at $43.9 billion.
The plan includes $16.7 billion in general fund dollars. That is the discretionary money that comes from corporate and individual income taxes, as well as sales and use taxes. Lawmakers use that money to fund new programs, although it will be in short supply in a year when the Joint Budget Committee will have to find ways to cover a $1.2 billion shortfall.
Senate Bill 206 was introduced along with 63 “orbitals” — bills that make statutory changes to balance the budget. And that’s where a lot of the cuts to state spending can be found.
Among the largest is Senate Bill 264, which transfers $225.2 million from 52 separate cash funds to the general fund in the 2024-25 and 2025-26 budgets. The current year transfers would roll over into the 2025-26 budget.
The largest sweep is $71.4 million for the multimodal options fund, a cash fund within the Department of Transportation. The smallest is $265 from a dropout prevention grant fund in the Department of Education. That’s a reflection of just how much hunting lawmakers — and JBC staff — had to do to find a way to fill that $1.2 billion hole.