The State Budget Process
The Governor submits a proposed budget to the Joint Budget Committee each year in advance of the year's legislative session. Colorado's fiscal year is from July 1 to June 30.
All bills introduced in the General Assembly are evaluated by the non-partisan state legislative services body for their fiscal impact and must be provided for in appropriations legislation if there is a fiscal impact.
A state budget, called the "long bill" is prepared each year by the Joint Budget Committee of the General Assembly. The House and the Senate alternate the job of introducing the long bill and making a first committee review of it. Colorado's state legislature is required to obtain voter approval in order to incur significant debt, to raise taxes, or to increase state constitutional spending limitations. It is also required to comply with a state constitutional spending mandate for K-12 education. The Governor has line item veto power over appropriations.
Read more about this topic: Colorado General Assembly
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