Text of Referendum D

Unemployment Compensation Insurance

Be It Resolved by the House of Representatives of the Sixtieth General Assembly of the State of Colorado, the Senate concurring herein:

SECTION 1. At the next election at which such question may be submitted, there shall be submitted to the registered electors of the state of Colorado, for their approval or rejection, the following amendment to the constitution of the state of Colorado, to wit:
Section 20 (2) (e), (4) (a), and (7) (d) of article X of the constitution of the state of Colorado are amended to read:

Section 20.  The Taxpayer's Bill of Rights.(2)  Term definitions. Within this section: (e)  "Fiscal year spending" means all district expenditures and reserve increases except, as to both, those for refunds made in the current or next fiscal year or those from gifts, federal funds, collections for another government, pension contributions by employees and pension fund earnings, reserve transfers or expenditures, damage awards,or property sales, OR UNEMPLOYMENT COMPENSATION FUNDS.

(4)  Required elections. Starting November 4, 1992, districts must have voter approval in advance for: (a) (i)  Unless SUBPARAGRAPH (ii) OF THIS (a), (1), or (6) applies, any new tax, tax rate increase, mill levy above that for the prior year, valuation for assessment ratio increase for a property class, or extension of an expiring tax, or a tax policy change directly causing a net tax revenue gain to any district.
(ii)  NOTWITHSTANDING SUBPARAGRAPH (i) OF THIS (a), DISTRICT ACTIONS RELATING TO ANY CHARGE IMPOSED TO FUND UNEMPLOYMENT COMPENSATION SHALL NOT REQUIRE VOTER APPROVAL.

(7)  Spending limits. (d)  If revenue from sources not excluded from fiscal year spending exceeds these limits in dollars for that fiscal year, the excess shall be refunded in the next fiscal year unless voters approve a revenue change as an offset. Initial district bases are current fiscal year spending and 1991 property tax collected in 1992. Qualification or disqualification as an enterprise shall change district bases and future year limits. Future creation of district bonded debt shall increase, and retiring or refinancing district bonded debt shall lower, fiscal year spending and property tax revenue by the annual debt service so funded. Debt service changes, reductions, (1) and (3) (c) refunds, and voter­approved revenue changes are dollar amounts that are exceptions to, and not part of, any district base. IN ADDITION TO ANY OTHER CHANGES REQUIRED BY THIS (d), FOR THE FISCAL YEAR COMMENCING ON AND AFTER JANUARY 1, 1997, BUT PRIOR TO JANUARY 1, 1998, DISTRICT BASES SHALL BE DECREASED BY AN AMOUNT EQUAL TO EIGHTY PERCENT OF THE AMOUNT OF A DISTRICT'S FISCAL YEAR SPENDING DURING THE PREVIOUS FISCAL YEAR FROM UNEMPLOYMENT COMPENSATION FUNDS. Voter­approved revenue changes do not require a tax rate change.

SECTION 2. Each elector voting at said election and desirous of voting for or against said amendment shall cast a vote as provided by law either "Yes" or "No" on the proposition: "AN AMENDMENT TO SECTION 20 OF ARTICLE X OF THE CONSTITUTION OF THE STATE OF COLORADO, CONCERNING THE EXCLUSION OF FUNDS FOR UNEMPLOYMENT COMPENSATION FROM FISCAL LIMITATIONS, AND, IN CONNECTION THEREWITH, MODIFYING THE DEFINITION OF "FISCAL YEAR SPENDING" TO EXCLUDE UNEMPLOYMENT COMPENSATION FUNDS, EXCLUDING ACTIONS RELATING TO CHARGES IMPOSED TO FUND UNEMPLOYMENT COMPENSATION FROM THE VOTER­APPROVAL REQUIREMENT FOR TAX INCREASES, AND REQUIRING A ONE­TIME REDUCTION IN DISTRICT BASES TO EXCLUDE A PORTION OF A DISTRICT'S FISCAL YEAR SPENDING FROM UNEMPLOYMENT COMPENSATION FUNDS."

SECTION 3. The votes cast for the adoption or rejection of said amendment shall be canvassed and the result determined in the manner provided by law for the canvassing of votes for representatives in Congress, and if a majority of the electors voting on the question shall have voted "Yes", the said amendment shall become a part of the state constitution.

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