FB59E6ED46A02FFB8725838A0070ACEC Hearing Summary

Minority Leader Neville, bill sponsor, presented House Bill 19-1097.  The bill reduces the state income tax rate from 4.63 percent to 4.25 percent for 2019 and all subsequent tax years and makes corresponding changes to the alternative minimum tax.  It requires the State Controller to proportionally void General Fund appropriations in amounts equal to the revenue decrease it is expected to cause.  The bill reduces General Fund revenue on an ongoing basis and reduces General Fund expenditures for most principal departments.

Minority Leader Neville answered questions from the committee.

Chris Stiffler, Colorado Fiscal Institute, testified in opposition to the bill. Mr. Stiffler answered questions from the committee. He provided a copy of his written statement to the committee (Attachment A).

Matt McCabe, American Federation of Teachers - Colorado, testified in opposition to the bill.

Brian Tanner, Colorado Education Association, testified in opposition to the bill.

Representative Humphrey explained amendment L.001 (Attachment B).  Minority Leader Neville answered questions about the amendment.

Minority Leader Neville made concluding remarks about the bill. Committee members commented on the bill.