Jan 15, 2010 1:43 PM by Associated Press
Colorado lawmakers are moving quickly to take back $110 million in funding from schools because of the recession.
Lawmakers voted last year to give the money to school districts but required that they set the money aside in case the economy continued to decline.
On Friday, three days into the new legislative session, the Senate Appropriations Committee approved taking the money back to help the state cover a looming $1.5 billion budget shortfall.
Democratic Sen. Bob Bacon of Fort Collins, a former teacher, says the cuts pained him but that the state has no other choice.
The full Senate is now debating the bill.