Overview

• Governor Polis has convened the Colorado General Assembly on August 21 to address the fiscal year’s $783 million general fund shortfall
• He has imposed a hiring freeze effective this month through year-end to reduce state spending by an estimated $3–7 million
• Polis’s plan asks lawmakers to authorize business tax prepayments, cap certain deductions and tighten limits on corporate foreign earnings
• The executive order also directs legislators to consider delaying or adjusting Colorado’s first-in-the-nation AI regulation set for February
• Lawmakers will weigh modest use of the state’s limited reserves alongside revenue measures and cuts to balance the budget