Hickenlooper unveiling next year’s Colorado budget

Gov. John Hickenlooper is unveiling his Colorado budget proposal for next year, and a big question is how the state plans to refund excess state revenue to taxpayers.

The Democratic governor is scheduled to release his budget plans Monday afternoon.

An improving economy means the state is collecting more tax revenue. That means refunds mandated by Colorado’s Taxpayer’s Bill of Rights, also known as TABOR, are on the horizon.

The first refunds are expected to happen in 2016, and economists told lawmakers in September they need to budget about $130 million for that in next year’s budget.

Hickenlooper has said he favors giving the money back instead of asking voters to keep it.

The budget proposal will also include details about funding for schools, health care, and prisons.