Colorado Lawmakers Getting Update On State Economy

DENVER (AP) — Colorado lawmakers are getting an update on the state's economy that will provide a clearer picture of how much money they need to refund to taxpayers.

The quarterly revenue forecast scheduled for release Friday morning helps lawmakers budget for future years and gives an overview of the state's economic health.

One area budget writers are playing close attention to is the size of refunds required under Colorado's Taxpayer's Bill of Rights, which calls for rebates when revenue exceeds the rate of population growth and inflation.

Lawmakers are budgeting $70 million for refunds next year and $117 million for the following year.

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