Ballot Title Setting Board
2003-2004

The title as designated and fixed by the Board is as follows:

An amendment to the Colorado constitution concerning tax cuts, and, in connection therewith, establishing a $25 tax cut that increases $25 yearly to lower each 2005 and later state and local tax in each tax bill for each utility and television account customer tax and franchise charge, vehicle sales, use, and ownership tax, and real estate transfer tax, on each $25,000 of taxable value, and fraction thereof, yearly income tax on each $25,000 of state taxable income, and fraction thereof, up to $100,000, occupation tax, and property tax; allowing district voters to lower or cancel, and districts to delay or reduce, tax cuts in certain circumstances; allowing districts to let taxpayers reject tax cuts on their tax bills; requiring districts to refund twice the tax cut amount withheld if certain conditions are violated; specifying these tax cuts do not lower the minimum yearly revenue needed to pay bonds issued before 2005; and requiring yearly compliance audits and strict enforcement by the state.

The ballot title and submission clause as designated and fixed by the Board is as follows:

Shall there be an amendment to the Colorado constitution concerning tax cuts, and, in connection therewith, establishing a $25 tax cut that increases $25 yearly to lower each 2005 and later state and local tax in each tax bill for each utility and television account customer tax and franchise charge, vehicle sales, use, and ownership tax, and real estate transfer tax, on each $25,000 of taxable value, and fraction thereof, yearly income tax on each $25,000 of state taxable income, and fraction thereof, up to $100,000, occupation tax, and property tax; allowing district voters to lower or cancel, and districts to delay or reduce, tax cuts in certain circumstances; allowing districts to let taxpayers reject tax cuts on their tax bills; requiring districts to refund twice the tax cut amount withheld if certain conditions are violated; specifying these tax cuts do not lower the minimum yearly revenue needed to pay bonds issued before 2005; and requiring yearly compliance audits and strict enforcement by the state?

Hearing December 4, 2002

Single subject approved; staff draft amended; titles set.
Hearing adjourned 4:50 p.m.

Rehearing December 18, 2002

Motion for Rehearing submitted by Mr. Marsh denied.
Motion for Rehearing submitted by Mr. Bruce granted in part to the extent Board amended titles; denied in all other respects.
Hearing adjourned 3:11 p.m.

* Unofficially captioned "Amend TABOR - Tax Cuts" by legislative staff for tracking purposes. Such caption is not part of the titles set by the Board.