Personal income rose enough in Colorado last year to trigger provisions that could redirect $1.25 billion in extra funds to repair the state’s roads and buildings over the next five years.
But those transfers may end not long after they start because of caps linked to refunds made under the state’s Taxpayer’s Bill of Rights, or TABOR.
Personal income in Colorado last year rose 5.6 percent, the third-biggest increase, after Alaska and Oregon at 5.7 percent each, according to a report Wednesday from the U.S. Bureau of Economic Analysis.
Under a law passed in 2009, the state must redirect 2 percent of general fund revenues into the Highway Users Tax Fund and the Capital Construction Fund once personal income growth in the state exceeds 5 percent.
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