Colorado Initiative 125 (2008)

Not on Ballot
This measure was not put on an election ballot

Initiative 125, or the Saving Account for Education Initiative, would have created a state education fund through a 0.33% tax on federal taxable income of every individual, estate, trust, and corporation. It would have also required that state education spending increase by the rate of inflation plus 1% through 2012 and at no less than the rate of inflation thereafter.

The similar Initiative 126 was introduced by the same sponsors, and proponents chose to concentrate their efforts on that version, which was designed to allow the general assembly to appropriate money from the state education fund, but only by a two-thirds vote of both Houses. Initiative 126 was also designed to allow the general assembly to appropriate money from the fund only if the state general fund revenues will not be sufficient to maintain the 4% reserve required by law.

This measure was a citizen-initiated constitutional amendment.

The official ballot title read:

An amendment to the Colorado constitution concerning the manner in which the state funds public education from preschool through the twelfth grade, and, in connection therewith, requiring that any revenue that the state would otherwise be required to refund pursuant to the constitutional limit on state fiscal year spending (Taxpayer’s Bill of Rights) be transferred instead to the state education fund; eliminating the requirement that, for the 2011-12 state fiscal year and each state fiscal year thereafter, the statewide base per pupil funding for public education from preschool through the twelfth grade and the total state funding for all categorical programs increase annually by at least the rate of inflation; for the 2010-11 state fiscal year and each state fiscal year thereafter, creating a state education fund savings account in the state education fund; requiring that a portion of the state income tax revenue that is deposited in the state education fund be credited to the savings account in certain circumstances; requiring a bill to be passed by a two-thirds majority vote of the general assembly to use the moneys in the savings account; establishing the purposes for which moneys in the savings account may be spent; establishing a maximum amount that may be in the savings account in any state fiscal year; and allowing the general assembly to transfer moneys from the general fund to the state education fund, notwithstanding any limitations on annual general fund appropriations, so long as certain obligations for transportation funding are met.

Supporters

House Speaker Andrew Romanoff was the leading proponent of this measure, as well Initiative 126. He argued that the measure would fix problems and conflicts in the state Constitution between the Taxpayer Bill of Rights (TABOR) spending requirements and Amendment 23, which protects and boosts education spending. Both initiatives were designed to eliminate the tax refunds from TABOR and put the money into a state education fund to be used for specific education purposes.

Also supporting the measure were the Colorado Children's Campaign, AARP in Colorado, the Colorado Association of School Boards, and Republican state Attorney General John Suthers.

Opponents

A number of Republican lawmakers expressed opposition to the measure, including Douglas Bruce, who helped write TABOR. Bruce said the measure "would mean unlimited state funding forever."

Status

The Title Board set the measure's title, but supporters put their efforts behind the other version of this proposal, Initiative 126, and abandoned Initiative 125

See also

• Procedures for qualifying an initiative in Colorado
• Laws governing the initiative process in Colorado
• Campaign finance requirements for Colorado ballot measures
• Colorado 2008 ballot measures
• Petition drive deadlines in 2008
• Colorado signature requirements

External links

• Full text of the initiative