Denver Post - Hickenlooper warns of budget perils to come, thanks to TABOR

The reason for the strife, the Democrat made clear, is the state's constitutional spending limit known as the Taxpayer's Bill of Rights. It's politically volatile to point the finger at TABOR, and Hickenlooper sought to walk a fine line as he raised questions about its impact.

In fiscal year 2016, Colorado is forecasting taxpayer refunds because the state's revenues are exceeding the inflation-plus-population-growth-cap for the first time in 15 years. Unless lawmakers seek to keep the money, the refunds will go out the door even as the state struggles to meet its constitutional requirement to fund education under what is known as Amendment 23. The state is short $900 million on education funding, according to analysts.