GREAT UNEXPECTATIONS: Hickenlooper vetoes a finance-reform bill opposed by his unexpected supporters.
By Jackie Moreau | WatchdogWire.com
Colorado’s most recent legislative session was one of “unexpectations.”
Gov. Hickenlooper unexpectedly vetoed a finance-reform bill that kept unexpected fundraisers satisfied, Watchdog Wire’s Joshua Sharf reports.
House Bill14-1375, which passed with bipartisan support, targeted Tax Increment Financing and developers who have been able to subvert costs of development projects from its revenue. TIF revenue is generated by development’s incremental sales or property tax.
Two of those beneficiaries are developers Chad and Troy McWhinney, brothers who have been longtime supporters of Republican office-seekers. However, Chad, Troy,and Thomas Gendron of the Woodward Governor firm, hosted a generous fundraiser for Hickenlooper the week HB14-1375 was introduced into the Legislature.
The McWhinney brothers have been substantial recipients of TIF revenue for several of their projects, and have not been shy about reinvesting some of that money into local politics.Woodward Governor also received about $16 million in TIFs for its new headquarters in 2013.
State Sen. Lois Tochtrop, D-Adams County, the prime Senate sponsor of the bill, said she initially was encouraged that the governor would sign the bill, recalling a post-session email asking for members to schedule signing ceremonies on which HB1375 was included.
Find out what the governor’s reasoning was for vetoing the bill here.