Forecasts: Colorado economy to grow at moderate pace

Forecasts: Colorado economy to grow at moderate pace
Posted at 4:13 PM, Jun 20, 2017
and last updated 2017-06-20 18:13:19-04

DENVER (AP) — For the first time in recent memory, Colorado lawmakers may not have to balance state budgets while keeping an eye on revenue limits.

That's according to forecasts presented Tuesday by legislative and executive branch economists.

A new law exempts payments made by hospitals from revenue caps set by the Taxpayer's Bill of Rights, the 1992 constitutional amendment that limits what the state can receive in taxes.

Hospitals get federal matching grants for those payments so they can serve the underinsured and uninsured.

The economists say that's the biggest reason lawmakers will have more leeway to ensure that state budgets are balanced for the fiscal year beginning July 1 and the following fiscal year.

They say Colorado's economic growth will continue at a moderate pace despite labor and housing shortages.