Boulder Chamber backs plan on increasing funds available under TABOR

BOULDER – The Boulder Chamber on Monday put its backing behind a bill that could eliminate Colorado TABOR refunds in coming years and help increase funds available for things like transportation and education.

House Bill 1389, which was passed by the House on Monday, would create an enterprise fund for the hospital provider fee assessed by the state on hospitals to help expand Medicaid programs and also gain additional federal matching Medicaid funds.

Despite being part of the general fund, the money generated by the fee is restricted and can’t be used for infrastructure projects or other needs that lawmakers identify. Removing the hospital provider fee funds from the general fund would decrease the growth rate of the general fund, important as it relates to Colorado’s Taxpayer Bill of Rights.

SPONSORED CONTENT

People Powered: Preparing Longmont Businesses for Economic Success

Longmont Chamber and FNBO present People Powered on April 24, 2024, aiming to inform business owners about workforce development, housing, and transportation issues.

Under TABOR, when general fund revenue grows more than a certain percentage, the excess funds must be repaid to taxpayers, as is expected in coming years. With the hospital provider fee funds currently taking up space under the cap, it leaves less money for things like schools and roads.

The bill to create an enterprise fund for the fee still has to pass the Republican-controlled Colorado Senate, where it faces a much tougher road. But in joining organizations like the Metro Denver Chamber in support of the bill, Boulder Chamber CEO John Tayer said Monday that passage of the bill is important to all businesses to help invest in public programs that will help fuel the state’s economy.

“For us, the opportunity to find additional resources for transportation, education and other critical economic investments is something we want to support,” Tayer said. “This is an opportunity to use the law’s own provisions to identify resources that are already available without additional taxes or fees to cover those kinds of investments.”