Search Results

The House today passed legislation sponsored by Representatives Jennifer Parenti and Jennifer Bacon to protect homeowners from construction defects that are covered under warranty. The bill passed by a vote of 35-27. < Back April 4, 2024 Bill to Increase Homeowner Protections Passes House DENVER, CO - The House today passed legislation sponsored by Representatives Jennifer Parenti and Jennifer Bacon to protect homeowners from construction defects that are covered under warranty. The bill passed by a vote of 35-27. "Buying a home is the biggest investment that most Coloradans will make, and there needs to be protections for homeowners when there are significant problems with how their homes were built,” said Rep. Jennifer Parenti, D-Erie. “Homeowners shouldn’t have to pay thousands of dollars out of pocket to fix builders' mistakes or obtain legal representation just to make their home a safe place to live. Our bill brings more accountability to homebuilders who refuse to honor their warranties and gives Colorado homeowners more tools and leverage when negotiating with their builder on defect claims.” “Communities across our state are building new, affordable housing quickly to combat the housing crisis, but the quality of these homes should not be compromised just to provide more housing,” said Rep. Jennifer Bacon, D-Denver. “Coloradans buy homes to build equity and generational wealth, and they typically don’t have the disposable income on hand to pay for large and unexpected repairs caused by faulty construction. Our bill is crucial in allowing homeowners to pursue legal avenues to remedy construction defect issues.” HB24-1230 would improve protections for homeowners in construction defect lawsuits by: Increasing the statutory limitation period for construction defect actions from six years to ten years, Allowing a claim for relief to arise at the time that either the physical occurrence of the defect or the cause of the defect is discovered, Voiding any contractual provision that limits a property owner’s right to bring or join a legal action against a construction professional, Voiding any HOA governing document that conflicts with the bill’s provisions, and Requiring a residential property owner to include specific disclosures related to protections and claims in a contract for the sale of property. Colorado has some of the weakest homeowner protections in the country, with only four states having a shorter statute of limitations for construction defects. Previous Next

SB25-038 would keep personal information confidential after filing a wildlife damage compensation claim < Back February 24, 2025 House Ag Committee Passes Bipartisan Bill to Address Issues with Wolf Reintroduction DENVER, CO – The House Agriculture, Water & Natural Resources today passed bipartisan legislation to protect Coloradans from having their private information shared after a wildlife incident on their property. “In support of our agricultural communities, who are dealing with the consequences of wolf reintroduction on the Western Slope, we’re championing bipartisan legislation to protect their personal information when filing a claim for compensation following depredation,” said Speaker Julie McCluskie, D-Dillon. “This bill ensures that the cell phone numbers, addresses, or any other personal information of those filing a wildlife damage compensation claim is kept confidential. Given the political landscape surrounding wolf reintroduction in our state, we must ensure Coloradans can file wildlife compensation claims without fear of retaliation or trespassing on their property.” SB25-038 passed committee by a vote of 13-0. This bill would require that personal information be kept confidential after an individual files a wildlife damage compensation claim with the Colorado Parks and Wildlife (CPW). When individuals file wildlife compensation claims with the CPW, their personal information, including cell phone number, name and address, is currently subject to the "Colorado Open Records Act". This bill would not disclose personal information to keep Coloradans safe and offer privacy to filing individuals. Previous Next

< Back February 5, 2019 HOUSE COMMITTEE APPROVES BILL TO HELP RENTERS Titone and Gonzales-Gutierrez’s commonsense bill could help ease housing crunch (Feb. 5) – The House Business Affairs and Labor Committee voted in favor of a bill this morning that would protect renters from unnecessarily high rental application fees. “The high cost of unchecked rental application fees has played a role in exacerbating the affordable housing crisis,” said Rep. Brianna Titone, D-Arvada. “The goal of this bill is to ease the housing crunch, increase transparency in the rental application process and ensure bad actors aren’t harming Coloradans seeking a home for themselves and their families. Under current state law, there are no limits on what landlords can charge for a rental application fee, and there are no safeguards to ensure the fee aligns with the actual costs of screening a prospective tenant. “Rental application fees should actually be used to conduct a consumer credit or reference check, not increase a landlord’s profit,” said Rep. Serena Gonzales-Gutierrez, D-Denver. “Our bill aims to provide some relief to individuals or families searching for housing across our state by putting in place a key consumer protection safeguard in the rental process.” More than a dozen states have enacted policies that set reasonable terms for the collection and retention of rental application fees. For hardworking individuals or families struggling to find housing, the high cost of non-refundable application fees can easily exhaust their limited financial resources, sometimes making it impossible for them to pay a security deposit or the first month’s rent. HB19-1106 puts in place commonsense limits on the application fees that renters face as they search for their next rental home. The bill keeps application fees to the price of what is necessary to screen residents—such as credit reports, reference checks or tenant screening reports—and ensures the fee is refunded if the applicant is never screened. The bill was approved on a vote of 7-4 and now heads to the House floor. Previous Next

< Back April 26, 2022 JUST TRANSITION FUNDING MOVES FORWARD Legislation from Roberts and Esgar directs $15 million to create jobs and help communities transitioning from coal-based economies DENVER, CO – The House Transportation and Local Government Committee today passed legislation to create jobs, support workers, and boost communities transitioning from coal-based economies. The bill passed 12-1. “The Office of Just Transition has widespread bipartisan support because of the critical work it is doing to boost workers and communities that are transitioning away from coal-based economies,” said Majority Leader Daneya Esgar, D-Pueblo. “This year, we are going to direct significant state funding to these critical efforts to ensure that no one is left behind. This funding will go directly to workers and will help build vibrant and resilient economies in parts of our state that are struggling as our nation moves away from coal.” “Communities in my district and across the state are doing their best to transition their workforce and economies, but they cannot do it alone and they deserve resources from the state to make their transition plans a reality,” said Rep. Dylan Roberts D-Avon. “I am so proud to represent towns in Northwest Colorado like Hayden and Oak Creek who will be able to use the funding to provide workers job retraining and placement services and invest in projects that will create jobs and diversify their economy. This is the large investment in rural Colorado that our transitioning communities deserve, and I am thrilled this bill is moving forward with strong bipartisan support.” HB22-1394, sponsored by Majority Leader Daneya Esgar and Representative Dylan Roberts, would fund the Office of Just Transition, which is working to boost communities and workers transitioning from coal-based economies. The bill supports coal workers to help them provide for themselves and their families, and access innovative education and training opportunities. It also distributes grants to communities to help them create vibrant, resilient and sustainable local economies. $5 million will go to support economic development and assistance to local businesses, and $10 million will go directly to workers and their families. Previous Next

< Back May 1, 2019 COLORADO LEADING ON CLIMATE ACTION: HOUSE INITIALLY APPROVES BILL TO COLLECT LONG-TERM CLIMATE CHANGE DATA (May 1) – The House preliminarily passed a bill by Rep. Chris Hansen to collect long-term climate change data. “Colorado’s way of life is being threatened by climate change and carbon pollution emissions, and we need a data driven approach to protect it. But we are falling short on reducing carbon emissions because we are not collecting adequate information. This bill will lay a strong foundation of data that we can build upon to evaluate emissions,” said Rep. Hansen, D-Denver. Due to a lack of leadership in Washington, states must lead on climate action. Recent reports show that President Trump’s misguided federal budget would cut climate programs. For example, under the Trump budget, funding for the Environmental Protection Agency’s air and energy research program, which is tasked with climate change research, would have been slashed by two-thirds. Under SB19-096, the Air Quality Control Commission (AQCC) would be required to collect carbon emissions data across Colorado. This commission would then produce a report and forecast future emissions, as well as propose the most cost-effective way for Colorado to meet our carbon emissions reduction goals. The AQCC, which is part of the Department of Public Health and Environment, must complete all legislative requirements by July 1, 2020. The Senate co-prime sponsor of the bill is Sen. Kerry Donovan, D-Vail. This bill was approved on a voice-vote. A final vote will take place at a later date. Previous Next

< Back April 13, 2024 Bill to Ban Assault Weapons Transfer and Purchase Sees Initial Approval in House Legislation would ban weapons of war to save lives in Colorado DENVER, CO - The House today gave preliminary approval to gun violence prevention legislation sponsored by Representatives Tim Hernández and Elisabeth Epps to prohibit the manufacture, import, purchase, or sale of assault weapons and rapid-fire trigger activators. “Columbine High School, Aurora movie theater, Club Q, and the Boulder King Soopers shooting – Our state has endured too many tragedies that we can easily name that have been carried out with assault weapons,” said Rep. Tim Hernández, D-Denver. “As the youngest member of the Colorado General Assembly and a teacher, I feared every day that my school could end up in the news from a deadly attack. This legislation is one step we can take in the legislature to protect our communities, especially our students and educators, and save Colorado lives.” “The proliferation of weapons of war has wreaked havoc on our communities. This uniquely American epidemic requires bold solutions and state-level action," said Rep. Elisabeth Epps, D-Denver. "Policy choices created an environment where the real and present threat of a public mass shooting pervades every element of our lives. And it is making better policy choices—like banning the sale of assault weapons—that will help save Coloradans from preventable gun violence.” Beginning July 1, 2024, HB24-1292 would prohibit the manufacture, import, purchase, or sale of assault weapons and rapid-fire trigger activators. A violator who does not have a permit to sell shall be assessed a civil penalty in the amount of $750 if attempting to make a private sale. A licensed gun dealer who violates this law shall be reported to the Department of Revenue where appropriate action may be taken as required by law. Exceptions include: U.S. military members, peace officers, or other government officers or agents, The manufacture, sale, or transfer of an assault weapon from a licensed firearms manufacturer to the U.S. military or entity that employs peace officers, Transfer of an assault weapon to a licensed firearms dealer or gunsmith for temporary maintenance, repair, modification, storage, or permanent disposal. Any federal, state, or local historical society, museum, or institutional collection that is open to the public, as long as the assault weapon is securely housed and unloaded A forensic laboratory or an agent or employee of the laboratory while on duty Armored vehicle entities and their employees, or A licensed gun dealer who has a remaining inventory of assault weapons as of August 1, 2024, and sells or transfers the remaining inventory only to a non-Colorado resident and the sale or transfer takes place out of the state. A study found that over 60 percent of Americans support an assault weapons ban. From 2010-2019, assault weapons were used in 34 percent of mass public shootings. Since 2020, that number has increased to 60 percent . Assault weapons have been used in numerous mass shootings including the Uvalde shooting, Marjory Stoneman Douglas High School shooting, and the Pulse nightclub shooting. The gunman in the deadliest mass shooting in U.S. history, the 2017 Las Vegas shooting, had multiple guns in his hotel room, including semi-automatic firearms with bump stocks that converted the weapon into a fully automatic firearm. He was able to fire between 400-800 rounds per minute , killing 59 people and wounding hundreds. An AR-15 assault rifle was used in the Sandy Hook Elementary School shooting, killing 20 students and six staff members. There, the shooter fired 154 bullets in less than four minutes . In the Club Q shooting in Colorado Springs, a semi-automatic rifle was used to kill five people and injure 19 others. If signed into law, Colorado will join California, Connecticut, Delaware, Hawaii, Illinois, Massachusetts, Maryland, New Jersey, New York, and Washington in passing an assault weapons ban. Previous Next

Legislation would incentivize housing near transit options, and create tax credit to support affordable housing construction and an infrastructure development fund < Back February 20, 2024 House Democrats Unveil Bill to Incentivize Housing Near Transit Legislation would incentivize housing near transit options, and create tax credit to support affordable housing construction and an infrastructure development fund DENVER, CO - House Democrats today unveiled legislation to save people money on housing by building more housing near public transit, cycling and walking corridors, places of employment, and other centers of community. It would also provide financial support to cities, counties, and municipalities that meet their housing goals. “Ninety-five percent of Coloradans agree: The rent (and housing costs) are too damn high,” said Rep. Steven Woodrow, D-Denver. “We have to take action now to save people money on housing so that our loved ones and neighbors can continue to call Colorado home. By removing red tape, this legislation will allow communities to strategically increase housing options near transit hubs and job centers to address our housing shortage while reducing emissions, air pollution, traffic and vehicle miles traveled.” "Low-density housing creates sprawl, forcing Coloradans to live farther from their jobs, grocery stores, and schools,” said Rep. Iman Jodeh, D-Aurora. “It doesn’t have to be this way. We can change the status quo to create a more affordable Colorado that works for its people. Our bill would increase housing options near transit centers to save Coloradans money on housing and transportation while reducing traffic congestion and improving our air quality.” HB24-1313 would increase affordable housing options and help prevent Coloradans from being displaced from their communities by encouraging strategic housing development near transit and job centers. The bill empowers local governments to address Colorado’s housing needs and incentivizes them to build more housing by providing financial assistance when they meet their housing goals. It also aims to conserve our natural resources and improve our air quality to protect vulnerable communities from pollution-related health issues. The bill would establish Housing Opportunity Goals to identify areas close to transit services and shopping districts where qualifying cities and municipalities could build more affordable housing. Cities and municipalities would have the flexibility to decide where it makes sense to build more housing to ensure they are meeting the diverse needs of their communities. Municipalities could meet the Housing Opportunity Goals a number of different ways including increasing the height of multi-family and mixed-use zones, or allowing multi-family residences in commercial-only or single-family zones. Communities that meet their Housing Opportunity Goals would benefit from a new Affordable Housing Tax Credit and the Transit-Oriented Communities Infrastructure Fund to support their efforts in increasing housing opportunities near public transit, employment centers, safe biking and walking corridors. HB24-1313 applies to cities only if they are in Metropolitan Planning Organizations, have a population over 4,000, and have more than 75 acres of Transit Areas. Of the approximately 30 jurisdictions that would qualify under this bill, most are along the I-25 corridor. A recent poll found that 95 percent of Coloradans say the cost of renting or buying a home is a problem, with 70 percent saying that local governments aren’t doing enough to address this issue. Nearly 70 percent of Colorado voters also support a state law, like HB24-1313, to require cities and counties to allow more housing to be built near public transit and businesses and shopping areas while providing financial assistance for these projects. Previous Next

The House today passed a bill on a preliminary vote that would update Colorado’s consumer protection law and better protect Coloradans from unfair and deceptive business practices. < Back March 6, 2023 Weissman’s Consumer Protection Bill Moves Forward DENVER, CO – The House today passed a bill on a preliminary vote that would update Colorado’s consumer protection law and better protect Coloradans from unfair and deceptive business practices. “Colorado’s consumer protection laws are not working as intended and many Coloradans cannot pursue legal action against fraudulent businesses,” said Rep. Mike Weissman, D-Aurora . “By updating our state’s outdated consumer protection law, Coloradans will be better protected from unfair and deceptive business practices with pathways for pursuing legal action. This bill modernizes consumer protection laws to prioritize and protect everyday Coloradans.” HB23-1192 , sponsored by Representative Weissman, would update Colorado’s consumer protection law to better protect Coloradans from predatory business practices and make it easier for consumers to seek legal action against businesses engaging in deceitful or harmful practices. This bill makes necessary updates to Colorado’s consumer protection law, which was originally enacted in 1992. Under current law, in order to file a lawsuit against a business Coloradans must prove that the business is engaging in deceitful practices not only against them but has a pattern of fraudulent, consumer harm practices against others. This bill modifies the legal definition of “unfair or deceptive trade practice” to better protect Coloradans and removes barriers allow them to pursue legal action against the businesses. HB23-1192 also increases both civil and criminal penalties to ensure Coloradans are receiving adequate compensation from fraudulent businesses. This bill also expands Colorado’s 2020 price gouging law. Championed by Rep. Weissman, HB20-1414 made it illegal for companies to charge high and unfair prices during a declared disaster. HB23-1192 expands this law to protect consumers 180 days after a disaster declaration ends. Previous Next

< Back June 6, 2020 HIGH SCHOOL HOLOCAUST EDUCATION BILL PASSES THE HOUSE DENVER, CO– The House today passed a bill to require that high school seniors complete a course that includes genocide and Holocaust studies in order to graduate. HB20-1336, sponsored by Reps. Dafna Michaelson Jenet and Emily Sirota, would require that the State Board of Education adopt standards related to Holocaust and genocide studies. Specifically, it requires that by the 2023-24 school year, local district boards of education and charter schools incorporate a Holocaust and genocide studies component into an existing course that is required for graduation. The bill would also create, by July 2021, a publicly available resource bank that includes sample academic content, instruction programs, learning resource, professional developments, and case studies related to Holocaust and genocide studies. Both the standards and resource bank must be developed with input from experts. The bill passed 64-0. “Ignoring the darkest, most harrowing chapters of our history for the sake of temporary comfort will only lead to history tragically repeating itself,” said Rep. Michaelson Jenet, D-Commerce City. “Teaching our high school students about the horrors of the Holocaust and the genocides that have occurred across history and around the world will no doubt lead to a better informed, hopefully more compassionate and conscientious Coloradans down the road.” “Education is the light that can drive out the darkness of mass atrocities before they ever happen,” said Rep. Emily Sirota, D-Denver. “Teaching students about the Holocaust and other genocides in history is a tough and necessary conversation that we need to have with our young people. Understanding the banality of evil and how everyday discrimination can quickly lead to violent extermination is what will help us make good on the promise of ‘never again’.” Previous Next

< Back February 13, 2023 Bill Closes Corporate Tax Loophole to Boost Food Assistance and Small Businesses DENVER, CO - The House Finance Committee today passed legislation to close tax loopholes that allow wealthy corporations to deduct business meal and drink expenses from their taxable income in order to expand access to healthy foods in lower-income and under-served communities and help small food retailers and small family farms. It passed by a vote of 7-4. “Everyday Coloradans don’t get a tax break on their lunches, and neither should wealthy corporations,” said Rep. Mike Weissman, D- Aurora. “Hard-working Coloradans are pinching pennies to feed their families while CEOs get a tax break on their ‘three martini’ lunches. One in three adults living with children have reported skipping meals or eating smaller portions so their kids have enough food to eat. This bill would close this tax loophole and use the savings to provide food assistance to under-served communities and support our local farmers and food producers.” Currently, Colorado taxpayers collectively cover the cost of the “business meals deduction” because state tax deductions are linked to federal tax deductions. HB23-1008 would “decouple” from these federal income tax deductions, ending the resulting state tax loophole that allows wealthy corporations to deduct business meal expenses from their taxes. Ending these tax deductions would create revenue to reduce food insecurity for hard-working Coloradans and fund a tax credit to help our local farmers and food retailers access necessary equipment and better access market opportunities. This bill builds off bipartisan legislation passed by the General Assembly in 2022 to save Coloradans money on healthy foods. It allocates $1 million annually to the Healthy Food Incentive Fund, which provides healthy eating incentives for low-income Coloradans and makes it easier for these communities to access fresh, local fruits and vegetables. The fund created by the 2022 legislation supports programs including the Community Nutrition Incentive Program, which assists women, children, and older Coloradans in subscribing to weekly produce deliveries from a local farm; the Double Up Food Bucks Program, which doubles the value of SNAP benefits in participating markets and stores for fruits and vegetables; and the Community Food Access program, which allows more small retailers to acquire equipment to store and sell produce and supports small family farms in connecting their crops to market demand. HB23-1008 also creates an income tax credit for small food retailers and small family farms to cover 75% of the cost of new systems and equipment. Partnering with Colorado farms and food producers boosts revenue and cycles money into local economies. The Double Up Food Bucks Program provides a 2.5% economic multiplier, putting more money into the pockets of Colorado farmers and the local agricultural industry and expanding access to healthy foods. Increased subscriptions means that local farmers can afford to expand their operations, grow varied produce, and improve farming equipment. Previous Next

The House today passed legislation that will save Coloradans money by making housing more affordable and creating affordable child care opportunities. HB24-1316 passed by a vote of 44-19, HB24-1434 passed by a vote of 47-15, and HB24-1237 passed by a vote of 39-12. < Back May 1, 2024 RELEASE: House Passes Bills to Save Coloradans Money DENVER, CO - The House today passed legislation that will save Coloradans money by making housing more affordable and creating affordable child care opportunities. HB24-1316 passed by a vote of 44-19, HB24-1434 passed by a vote of 47-15, and HB24-1237 passed by a vote of 39-12. “Housing affordability is a top priority for Colorado Democrats, and this legislation would increase our housing stock for our lower- and middle-income Coloradans,” Rep. William Lindstedt, D-Broomfield, sponsor of HB24-1316. “The middle class is not immune to the rising cost of housing. Our legislation would save Coloradans money on housing by building more homes for our teachers, first responders, and other essential workers so they can afford to live in the communities where they work.” “Colorado Democrats have passed a variety of laws that encourage the development and preservation of affordable housing options, but we also need more housing for middle-income Coloradans that don’t qualify for housing support,” Rep. Mandy Lindsay, D-Aurora, sponsor of HB24-1316. “Coloradans need more housing options that work for their budget and allow them to live in the community where they work and raise their kids. With this bill, we can add more middle-income housing opportunities throughout Colorado to support our workforce and address the housing crisis.” HB24-1316 would create the first Middle-Income Housing Tax Credit Pilot Program in the nation to boost the development of rental housing for middle-income Coloradans. This pilot program would direct the Colorado Housing and Finance Authority (CHFA) to award up to $10 million per year in five-year state income tax credits for tax years 2025 through 2027. A total of $150 million in tax credits may be allocated through this program. “The Affordable Housing Tax Credit has been the most successful affordable housing program in our state, and I’m proud to carry this bill that will expand on the relief that this tax credit can provide to hardworking Coloradans,” Rep. Shannon Bird, D-Westminster, sponsor of HB24-1434. “This tax credit program is our most effective tool in addressing housing affordability throughout Colorado. This bipartisan effort will continue to boost affordable housing projects so more Coloradans can access housing that works for their budget.” HB24-1434 , also sponsored by Representative Ron Weinberg, R-Loveland, is a bipartisan bill that would increase Colorado’s Affordable Housing Income Tax Credit (AHTC) annually by $20 million for 2024-2026, $16 million for 2027-2029, and $10 million for 2023-2031. Administered by CHFA, the state AHTC is paired with federal incentives to create greater statewide impact. The AHTC Program was created in 2021 to support affordable housing developments across the state and has been renewed numerous times since then. From 2015 to 2021, the program has aided the development of over 8,000 housing units, supported nearly 24,000 jobs, and had an economic impact of $3.6 billion . HB24-1237 , also sponsored by Representative Mary Bradfield, R-Colorado Springs, would help reduce costs for developing child care facilities by providing technical planning, building, construction, and development support to increase child care providers. “Increasing affordable child care options will save Colorado families money and make it easier for new families to return to the workforce and support our thriving economies,” Rep. Meghan Lukens, D-Steamboat Springs, sponsor of HB24-1237. “This bipartisan legislation would make it easier to build new child care facilities and find safe ways to reuse existing spaces to boost child care options for Colorado families.” Specifically, this legislation would create the framework to provide planning and capital grants and technical support for local governments, institutions of higher education, public schools, employers, private partners, builders, and child care providers. Previous Next

Lawmakers yesterday introduced legislation that will restructure the refund mechanisms for state revenue collected above the TABOR cap. < Back May 1, 2024 Lawmakers Introduce New TABOR Refund Mechanism, Advance Tax Credits for Working Families DENVER, CO – Lawmakers yesterday introduced legislation that will restructure the refund mechanisms for state revenue collected above the TABOR cap. The bipartisan bill will temporarily lower income tax rates and create a new formula to determine future refund amounts through the six-tier refund mechanism and income rate reductions, and sales and use tax reductions in years with higher surpluses. These steps ensure Colorado will meet its commitment to fund critical services and schools during a recession while furthering efforts to reduce child poverty and boost the incomes of hardworking people through the new Family Affordability Tax Credit and expanded Earned Income Tax Credit . “Colorado is facing a choice; we can continue with our tax code that doesn’t benefit the majority of Coloradans, or we can boost the incomes of hardworking people, create a pro-family tax code, and cut child poverty in half,” said Speaker Pro Tempore Chris deGruy Kennedy, D-Lakewood. “This legislation, when combined with our Family Affordability Tax Credit and expanded Earned Income Tax Credit, will make our tax code more fair, boost the incomes of hardworking families and families with children, and cut child poverty in half in Colorado. I’m excited that we have found a way forward with Governor Polis to responsibly create new tax credits that benefit the majority of Coloradans and the people in our state that are feeling the brunt of our affordability crisis.” "Making sure Colorado's tax code works for all Coloradans is one of my top priorities, which is why this bill, combined with our work to bolster critical tax credits that benefit working families, is so important,” Senator Kyle Mullica, D-Thornton, said. "Taken together, these measures will put more money into the pockets of working Colorado families, cut child poverty in half, and make it easier to make ends meet." “I appreciate the work of so many organizations, lawmakers, and the governor who came together to create new tax credits that will cut child poverty, boost incomes for lower and middle-income people, and update our tax code so that it works for the majority of Coloradans, not just those at the top,” said Rep. Jenny Willford, D-Northglenn. “Colorado’s working families and children are counting on us to deliver meaningful tax relief, and I’m proud that we are going to deliver on this promise. The bill introduced today alongside our package of tax credits will make Colorado more affordable, put money back into the pockets of hardworking people, and help us forge a brighter future for millions of people who call our state home.” “Looking out for Colorado families means making sure they don’t have to choose between putting food on the table and paying rent or affording other necessities,” said Senate Assistant Majority Leader Faith Winter, D-Broomfield. “It’s no understatement to say that this is one of the more impactful pieces of legislation we’re going to see this session. I am extremely pleased to be a part of making this package of tax credits possible, because it will cut child poverty in half while benefiting the majority of Coloradans and making it that much easier for working families to get by in our state.” “Working Coloradans need our support, and I am pleased to say that we have an opportunity to make a real, transformative difference for kids and families,” said Senate President Pro Tempore James Coleman, D-Denver. “This package will provide direct relief for families in our community while making our tax code more equitable, and will help give every Colorado family the resources they need to thrive.” SB24-228 , sponsored by Mullica and Minority Leader Paul Lundeen, R-Monument, and Speaker Pro Tempore deGruy Kennedy and Minority Leader Rose Pugliese, R-Colorado Springs, will create a new refund mechanism and formula to distribute state revenue collected above the TABOR cap. The legislation is part of an effort from House and Senate Democrats to boost tax credits for hardworking people and families with children. Under these proposals, hundreds of millions in tax credits will go to middle and lower income families and will cut the child poverty rate in half. These proven-anti poverty measures will boost the incomes of the majority of Coloradans. For tax year 2024, income tax rates will be temporarily reduced from 4.40 percent to 4.25 percent. For years 2025 through 2035, the income tax rate cut is activated and will fluctuate based on the amount of state revenues expected to exceed the TABOR cap after accounting for reimbursements to counties for the senior homestead exemption. If the surplus exceeds $1.5 billion after the temporary rate reduction and reimbursements to counties, then a fourth refund mechanism will be activated that will reduce sales and use tax rates by 0.13 percent. Whether the refund mechanisms are triggered and which ones will be triggered will depend on the amount of state revenues in excess of the TABOR cap. If remaining excess state revenues are less than or equal to $300 million, TABOR refunds are distributed only through the tiered or flat sales tax refund mechanism; If remaining excess state revenues are greater than $300 million but less than or equal to $1.5 billion, TABOR refunds are distributed first through the income tax rate reduction and then through the tiered or flat sales tax refund mechanism; And if remaining excess state revenues are greater than $1.5 billion, TABOR refunds are distributed first through the income tax rate reduction, next through the sales and use tax rate reduction, and finally through the tiered or flat sales tax refund mechanism. Previous Next