H_FIN_2024A 02/12/2024 01:30:28 PM Committee Summary

Representatives Bottoms and Pugliese, co-sponsors, presented House Bill 24-1065. The bill reduces the state income tax rate from 4.4 percent to 4.0 percent beginning in tax year 2025.

The committee discussed the bill with the sponsors.

Discussion continued.

Ms. Chaer Robert, representing the Colorado Center on Law and Policy, testified in opposition to the bill.

Joshua Mantell, representing The Bell Policy Center, testified in opposition to the bill.

Mr. Geoff Withers, representing the League of Women Voters of Colorado, testified in opposition to the bill.

Mr. Lorenzo Harris, representing Colorado WINS, testified in opposition to the bill.

The panel of witnesses responded to questions from the committee.

Mr. Christopher Stiffler, representing the Colorado Fiscal Institute, testified in opposition to the bill.

Amie Baca Oehlert, representing the Colorado Education Association, testified in opposition to the bill.

Ms. Kiyana Newell, representing New Era Colorado, testified in opposition to the bill.

Evie Hudak, representing Colorado PTA, testified in opposition to the bill.

Adriana Cuva, representing themself, testified in support of the bill.

Donna LaBelle, representing themself, testified in support of the bill.

Mr. Tony Gagliardi, representing the National Federation of Independent Business, testified in support of the bill.

Ms. Erin Meschke, representing themself, testified in support of the bill.

The panel of witnesses responded to questions from the committee.  Written testimony for the bill is included as Attachment A.

The bills sponsors made closing comments and asked for a favorable recommendation.

Members of the committee commented about their positions on the bill.

Representatives Frizell and Weissman, co-sponsors, presented House Bill 24-1036. The bill, which was recommended by the Legislative Oversight Committee Concerning Tax Policy, expands, modifies, and/or eliminates various tax expenditures. Amendments L.001 (Attachment C), L.002 (Attachment D), and L.003 (Attachment E) were distributed to the committee. The sponsors responded to questions from the committee.

Mr. Michael McReynolds, representing the Governor's Office of Information Technology and the Colorado Broadband Office, testified to amend the bill.

Mr. Tim Coleman, representing the Colorado Rural Electric Association, testified to amend the bill.

Mr. Kelly Sloan, representing the Colorado Aviation Business Association, testified to amend the bill.

The panel of witnesses responded to questions from the committee.

Joshua Mantell, representing The Bell Policy Center, testified in support of the bill.

Ms. Caroline Nutter, representing Colorado Fiscal Institute, testified in support of the bill.

Josh Pens, representing the Department of Revenue, testified in support of the bill.

Dr. Aline Hansen-Guzman, representing the Colorado Academy of Family Physicians, testified in support of the bill.

Dr. Lindsey Paulson, representing the Colorado Academy of Family Physicians, testified in support of the bill.

Nicole Riehl, representing Executives Partnering to Invest in Children, testified to amend the bill.

Sara Leahy, representing Colorado Rural Health Center, testified in support of the bill.

The committee took a brief recess.

The committee returned to order. Representatives Marshall and Weissman, co-sponsors, presented House BIll 24-1052. For tax year 2024 only, the bill reinstates a refundable income tax credit for senior taxpayers with incomes up to $75,000 for single filers and $150,000 for joint filers who have not claimed a homestead property tax exemption. Amendments L.003 (Attachment F) and L.004 (Attachment G) were distributed to the committee.

Ms. Eileen Doherty, representing the Colorado Gerontological Society, testified in support of the bill.

Mr. Geoff Withers, representing the League of Women Voters of Colorado, testified in support of the bill.

Caroline Nutter, representing the Colorado Fiscal Institute, testified in support of the bill.

Ms. Andrea Kuwik, representing The Bell Policy Center, testified in support of the bill.

The panel of witnesses responded to questions from the committee.

Mr. Rich Mauro, representing the Denver Regional Council of Governments (and the Colorado Center for Aging), testified in support of the bill.

Mr. Dennis Valentine, representing AARP Colorado, testified in support of the bill.

Ms. JoAnn Groff, representing the Department of Local Affairs Division of Property Taxation, was available to answer committee questions.  Written testimony about the bill is included as Attachment H.

Representatives Marshall and Weissman, co-sponsors, presented House Bill 24-1053. The bill modifies the duties of the State Auditor related to evaluating tax expenditures, requires that the auditor evaluate the use of federal taxable income as the basis for state taxable income and the impact of federal tax law changes, and extends the Legislative Oversight Committee Concerning Tax Policy and associated task force until 2031.