Ballot Title Setting Board
2011-2012

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

State taxes shall be increased $1.075 billion annually in the first full fiscal year and by such amounts as are thereafter collected by amendments to the Colorado constitution and the Colorado Revised Statutes concerning the state personal income tax, and, in connection therewith, replacing the current single-rate income tax system for individuals, estates, and trusts with a graduated income tax, where those who earn higher incomes are taxed at higher rates; making the earned income tax credit permanent and increasing the amount of the credit; requiring personal income tax revenues be used only for education, higher education, health care, and public safety; requiring at least ninety percent of personal income tax revenues be spent on services for Colorado residents and not administrative costs; requiring the general assembly to establish a citizen's oversight committee to review and report on state personal income tax revenue expenditures; requiring an annual legislative report on the amount of state personal income tax revenues received and how those revenues were expended; repealing the constitutional requirement that all income be taxed at one rate; and specifying that the revenues raised by personal income taxes may be collected, kept, and spent notwithstanding any other limits in the constitution or law.

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

Shall state taxes be increased $1.075 billion annually in the first full fiscal year and by such amounts as are thereafter collected by amendments to the Colorado constitution and the Colorado Revised Statutes concerning the state personal income tax, and, in connection therewith, replacing the current single-rate income tax system for individuals, estates, and trusts with a graduated income tax, where those who earn higher incomes are taxed at higher rates; making the earned income tax credit permanent and increasing the amount of the credit; requiring personal income tax revenues be used only for education, higher education, health care, and public safety; requiring at least ninety percent of personal income tax revenues be spent on services for Colorado residents and not administrative costs; requiring the general assembly to establish a citizen's oversight committee to review and report on state personal income tax revenue expenditures; requiring an annual legislative report on the amount of state personal income tax revenues received and how those revenues were expended; repealing the constitutional requirement that all income be taxed at one rate; and specifying that the revenues
raised by personal income taxes may be collected, kept, and spent notwithstanding any other limits in the constitution or law?

Hearing March 2, 2011

Single subject approved; staff draft amended; titles set.
Hearing adjourned 11:36 AM

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