Article X, Section 20 of the Colorado Constitution is the Taxpayer’s Bill of Rights, often referred to as TABOR, and was approved by voters in 1992. One of the elements of TABOR is the TABOR refund, which goes back to taxpayers if revenue exceeds the state spending limit, as calculated by a formula in TABOR. This year is expected to be one of the years in which this occurs. For information on how the TABOR refund works, see the Colorado Legislative Council’s Issue Briefs, especially #15-08, Tabor Refund Mechanisms, published just this month. You can also find Briefs on marijuana’s effect on the TABOR refund; Colorado’s Constitutional Spending Limit, which breaks down the formula; and numerous other short, easy-to-understand explanations of Colorado’s economic issues.
Nope, it has nothing to do with Horace.
(Colorado Historical Society)