Overview

• Gov. Jared Polis signed an executive order for $103 million in midyear cuts taking effect September 1, with Medicaid absorbing the largest reduction at about $79 million including lower provider reimbursement rates.
• Higher education loses nearly $13 million and several health-related grants are trimmed, while K-12 schools and public safety are spared from reductions.
• The state will sweep roughly $146–149 million from dedicated cash accounts such as Proposition 123 housing, CollegeInvest, Disability Support, and School and Child Care Clean Drinking Water into the general fund.
• Polis plans to tap about $325–328 million from the rainy-day reserve, and officials say the state will maintain a reserve level north of 13% after the transfer.
• Following a special session, lawmakers added roughly $244–253 million through business tax changes and authorized $100 million in tax-credit sales, and they granted the governor unilateral authority to implement midyear cuts with Joint Budget Committee notification.