The bill creates the property tax task force (task force). The task force consists of both members of the general assembly and individuals who are not members of the general assembly. The purpose of the task force is to develop a permanent and sustainable tax structure for the state of Colorado.
The task force is required to:
- Convene by July 15, 2023;
- Meet at least 4 times in its first year and at least 8 times every year; and
- Submit reports with its findings and recommendations to the general assembly by November 1.
After the task force makes its first report to the general assembly, the task force may determine that it has fulfilled its purposes and the task force may be disbanded.
The task force is repealed on November 1, 2026.
(Note: This summary applies to this bill as introduced.)