TABOR Reform Bill Advances
Twenty-five years after Colorado voters approved the Taxpayer’s Bill of Rights, better known as TABOR, we’ve seen the impact of prescribing caps and investment requirements in our constitution. While we continue to support a major tenet of TABOR that gives Coloradans the right to vote on tax increases, we know that these formulas are putting us at an economic disadvantage.
That’s why we supported House Bill 1187, which would modify the TABOR revenues cap by allowing an annual adjustment for an increase based on the average annual change of Colorado personal income over the last five years, rather than adjusting for inflation and population growth.
Chamber Government Relations Vice President Mizraim Cordero testified before the House Finance Committee Monday, noting that three quarters of Colorado municipalities have approved opting out of the TABOR revenue cap.
The bill, sponsored by Republicans Sen. Larry Crowder and Rep. Dan Thurlow, passed through this first committee by a vote of 10-3.
“The formulas in TABOR tie our hands and make it difficult to invest in critical issues like mobility and education,” said Denver Metro Chamber of Commerce President and CEO Kelly Brough. “The world has changed a great deal in the past 25 years, and more change is coming. If we’re going to respond, we must remove these formulas from our Constitution.”
Construction Defects Reform Bill Advances
The bill that would inform owners of any potential litigation over a defect with the building and require alternative dispute resolution (ADR) before bringing a case to court survived its first committee hearing Monday.
Legislators of the Senate Business, Labor and Technology Committee passed Senate Bill 156 by a margin of 5-2. We’ll continue to update you as more bills focused on this issue are introduced and move through the legislature.
Bills Targeting Eco Dev Tools Die
Two bills that would impact business improvement districts and tax-increment financing died late last month. These are both important avenues to spur business and investment in areas that need the economic development strategies the most; we’re pleased that legislators agreed and did not allow these bills to advance.
Bill Providing Equitable Funding for Charter Schools Advances
Senate Bill 61, which would remedy key funding disparities that charter public schools face by requiring school districts to distribute 100 percent of per pupil mill levy revenue to those schools, was approved by the Senate Appropriations Committee and will go before the full Senate today.
Stay up to speed on the bills we’re tracking.