Although I just sent a newsletter, I am following it with this Special Budget Overview because of its importance to many of you.

Next week we will be discussing and finalizing the State Budget.  Below is a synopsis of the Joint Budget Committee (JBC) recommendations from Senator Pat Steadman who is on the JBC.  If you'd like to review this and then contact me with your concerns or questions before our deliberations next week, I'll work hard to keep your feedback in mind.

• Includes full funding for the senior homestead property tax exemption, at a cost of $98.5 million.  This measure allows seniors 65 and older to exempt 50% of the first $200,000 of their property tax if they have lived there for 10 years or more;
• Eliminates $54.2 million in cuts to higher education so our students can save money on tuition and graduate with less owed in student loans.
• Increases K-12 School Finance Act funding by $57.2 million over the prior year, which fully funds enrollment growth and keeps the state average per pupil amount equal to the FY 2011-12 level;
• Does not transfer severance tax revenue to the General Fund. In November the Governor's budget request included a transfer of $30 million. By avoiding this transfer, severance tax revenues remain available to local governments and for water infrastructure projects.
• Increases funding for Old Age Pension programs by $9.7 million, including a cost of living increase and restoration of dental benefits. This helps truly needy seniors, unlike the homestead exemption, which is not means tested.
• Increases funding for programs helping people with developmental disabilities by $11 million. This includes 193 new placements in waiver programs, chipping away at the waiting list.
• $13.4 million to promote tourism in Colorado, creating private-sector jobs in one of Colorado's top industries.
• Invests in jobs and Colorado's economy. Tourism promotion funds were supplemented to continue our investment in marketing Colorado as a tourist destination. Funding for the Film Commissioner's incentive program was increased by $3 million;
• $3 million was added to the Governor's Energy Office to support clean and renewable energy.

If you want to read the State Budget for yourself, please click here.  Or if you want to read any other Joint Budget Committee documents please click here