Weekly Policy Update: Medical Device Tax and Colorado State Budget
By: Colorado BioScience Association Date: 08/03/2018
Scott Larson, VP, Legal and General Counsel, Terumo BCT; Jenna Hutchins, Territory Manager, ResMed; Congresswoman Dianna Degette; April Giles, President, CBSA; Jonathan Toronto, Vice President, Associate General Counsel, Zimmer Biomet; Andrea Autobee-Trujillo, Deputy District Director for Congresswoman Degette
The July Focus newsletter was published this week with coverage on the medical device excise tax, a conversation with Congresswoman DeGette, looking ahead to the 2019 legislative session, and the regenerative medicine roundtable. For more details, please read Jennifer’s monthly policy update
Update on the Forecast of Colorado’s State Budget
Colorado’s economy is experiencing ongoing growth as employment continues to rise with economic increases across most industries. With new dollars and revenue coming into the state it provides the ability to fund critical priorities such as transportation, the Public Employees Retirement Act (PERA), K-12 education, etc. While the state budget is experiencing an influx of new dollars, the Governor’s office urges that many of these new dollars are already obligated. These obligations limit additional funding for measures beyond the state’s spending capability. Further, the Governor’s office does not predict a TABOR surplus in fiscal year 2018-2019 and predicts a slight one in 2019- 2020. If a surplus arises in 2020, those TABOR surplus revenues will go towards the senior homestead and the disabled veterans’ property tax exemption.
To learn more about the details of the budget click here. CBSA and the team will continue to follow the state of the budget and will keep you updated accordingly.