This issue brief provides information on mechanisms used to refund revenue in excess of the state's constitutional spending limit. The legislature determines how the excess revenue is refunded. Over the course of TABOR's history, there have been 21 different refund mechanisms.

This study illustrates the potential economic impact of the proposed Amendment 61 on Pueblo and El Paso Counties. This amendment would prohibit borrowing by the state government and limit the ability of local governments to borrow. This study focuses on the impact of restrictions on state borrowing since this prohibition would reduce the flow of "new dollars" into the region and reduce local economic activity. Recent capital construction projects...