On January 13, 2004 I introduced House Bill 04-1138 calling for the establishment of a revenue shortfall relief fund. HB 04-1138 if passed, would require the Colorado General Assembly to:

establish a "Revenue Shortfall Relief Fund"
annually appropriate general fund moneys to the "Revenue Shortfall Relief Fund" unless the total state general fund appropriations fall below a 5.5% general fund growth
authorize transfers from the "Revenue Shortfall Relief Fund" to the general fund if the total state general fund appropriations fall below a 5.5% general fund growth.
I believe this legislation is important to allow the state to prepare for the next fiscal crisis without raising taxes, altering the Constitution, or enabling Government to spend out of control. HB04-1138 will ensure fiscal accountability to Colorado taxpayers, using the money they entrust to the state wisely. By maintaining strong fiscal responsibility, our state will be well prepared for the years ahead.

HB04-1138 was heard before the House Finance Committee on Thursday, January 29, 2004. The bill was passed by a 10 to 1 vote, amended to the House Appropriations Committee. It passed House Appropriations on Friday, March 26, 2004, and is now awaiting second reading on the house floor.