Ballot Title Setting Board
2011-2012

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

State taxes shall be increased $536.1 million annually in the first full fiscal year and by such amounts as are raised annually thereafter by amendments to the Colorado Revised Statutes concerning increases in certain state taxes for additional public education funding, and, in connection therewith, increasing the rate of the state income tax imposed on all taxpayers from 4.63% to 5% commencing in the 2012 income tax year; increasing the rate of the state sales and use tax from 2.9% to 3% commencing on January 1, 2012; requiring that the additional revenues resulting from these increased tax rates be spent only to fund public education from preschool through twelfth grade and public postsecondary education; specifying that the appropriation of the additional tax revenues shall be in addition to and not substituted for moneys otherwise appropriated for public education from preschool through twelfth grade and public postsecondary education for the 2011-12 fiscal year; and allowing the additional tax revenues to be collected, kept, and spent notwithstanding any limitations provided by law.

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

Shall state taxes be increased $536.1 million annually in the first full fiscal year and by such amounts as are raised annually thereafter by amendments to the Colorado Revised Statutes concerning increases in certain state taxes for additional public education funding, and, in connection therewith, increasing the rate of the state income tax imposed on all taxpayers from 4.63% to 5% commencing in the 2012 income tax year; increasing the rate of the state sales and use tax from 2.9% to 3% commencing on January 1, 2012; requiring that the additional revenues resulting from these increased tax rates be spent only to fund public education from preschool through twelfth grade and public postsecondary education; specifying that the appropriation of the additional tax revenues shall be in addition to and not substituted for moneys otherwise appropriated for public education from preschool through twelfth grade and public postsecondary education for the 2011-12 fiscal year; and allowing the additional tax revenues to be collected, kept, and spent notwithstanding any limitations provided by law?

Hearing April 20, 2011

Single subject approved; staff draft amended; titles set.
Hearing adjourned 3:26 PM

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