Ballot Title Setting Board
2005-2006

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

An amendment to the Colorado constitution concerning net reductions in taxes and governmental charges, and, in connection therewith, establishing a $25 cut that increases $25 yearly to lower each 2007 and later state and local: (1) utility, internet, and television account customer-paid tax, franchise charge, and other governmental charge except a 911 charge, (2) vehicle sales, use, lease, rental, and ownership tax and governmental charge on each $10,000 of taxable value and part thereof, (3) occupation tax and governmental charge for occupational status, (4) payment in lieu of tax, and (5) yearly income tax on each $10,000 of state taxable income and part thereof, up to $40,000; decreasing the state income tax rate to 4.6% in 2007, 4.55% in 2008, and no more than 4.5% after 2008; allowing voters to lower or cancel, and governments to delay, the cuts in certain cases; allowing governments to let taxpayers refuse the cuts on each bill; requiring voter approval to increase the rate of the charges; providing that the state should end income tax credits, with certain exceptions, in order to offset the state revenue effects of the cuts; 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 net reductions in taxes and governmental charges, and, in connection therewith, establishing a $25 cut that increases $25 yearly to lower each 2007 and later state and local: (1) utility, internet, and television account customer-paid tax, franchise charge, and other governmental charge except a 911 charge, (2) vehicle sales, use, lease, rental, and ownership tax and governmental charge on each $10,000 of taxable value and part thereof, (3) occupation tax and governmental charge for occupational status, (4) payment in lieu of tax, and (5) yearly income tax on each $10,000 of state taxable income and part thereof, up to $40,000; decreasing the state income tax rate to 4.6% in 2007, 4.55% in 2008, and no more than 4.5% after 2008; allowing voters to lower or cancel, and governments to delay, the cuts in certain cases; allowing governments to let taxpayers refuse the cuts on each bill; requiring voter approval to increase the rate of the charges; providing that the state should end income tax credits, with certain exceptions, in order to offset the state revenue effects of the cuts; and requiring yearly compliance audits and strict enforcement by the state?

Hearing August 17, 2005

Single subject approved; staff draft amended; titles set.
Hearing adjourned 11:00 a.m.

* Unofficially captioned “Tax Cuts” by legislative staff for tracking purposes.  Such caption is not part of the titles set by the Board.