Capitol Connection – March 20, 2020
Government Affairs Update
March Budget Forecast
Due to the COVID-19, the Colorado General Assembly has temporarily adjourned until March 30, 2020 (HJR-1007).
Colorado’s Constitution requires a legislative session of 120 calendar days. The current legislative session is scheduled to adjourn no later than May 6, 2020. With the temporary adjournment until at least March 30, 2020, there is a question whether the 120 calendar days must be counted consecutively from January 8th, the first day of the legislative session or the legislature can reconvene and pick up where they left off on March 14th. The General Assembly requested the Colorado Supreme Court to issue its opinion on this question (HJR-1006).
Regardless of the Supreme Court’s opinion on how days are counted, the legislature still has Constitutional duties to carry out, such as the state’s budget and other mission critical legislation such as the school finance act. Therefore, the Joint Budget Committee will continue to meet during the temporary adjournment. On Monday, state legislative staff provided the quarterly economic update which shows a downgraded economic forecast that only takes into account some of the potential spending that will be necessary related to COVID-19. The state is expected to receive $800 million less than projected in the December forecast which will impact the how much money the state has for the budget. In all likelihood this means that there could possibly be budget cuts and some legislative priorities that cost money could fall by the wayside. The Joint Budget Committee members will need to completely rework the previous budget and that could mean some very difficult conversations for legislators when they reconvene the Legislature.
Review the March 2020 economic forecast here.
RPAC Quarter 1 Update
We wrapped up our first quarter of RPAC fundraising on March 15th. We had a strong first quarter, as a state we exceeded all three of our first quarter targets. As we navigate this unprecedented crisis, we will be adjusting RPAC fundraising activities to most appropriately serve the needs of Colorado REALTORS®. RPAC remains an integral part of our advocacy system and we will make adjustments with that in mind
Have you seen the latest RPAC Minute?
Please contact Cameron Hill for questions and further updates.
Colorado Project Wildfire
Developed by the Colorado Association of REALTORS®, Project Wildfire is designed to help reduce the destruction of land, property, and lives. Working in partnership with other like-minded fire prevention organizations across the state, local REALTOR® associations are bringing education and awareness, as well as access to resources, directly to residents in their local communities. To learn more about Colorado Project Wildfire, click here.
Colorado Project Wildfire Partnerships Gaining State and National Attention – Read here.