Ballot Title Setting Board
2017-2018

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

STATE TAXES SHALL BE INCREASED $432,800,000 ANNUALLY FOR A TWENTY-YEAR PERIOD, AND STATE DEBT SHALL BE INCREASED $3,720,000,000 WITH A MAXIMUM REPAYMENT COST OF $6,200,000,000, TO PAY FOR STATE AND LOCAL TRANSPORTATION PROJECTS, AND, IN CONNECTION THEREWITH, CHANGING THE COLORADO REVISED STATUTES TO: 1) INCREASE THE STATE SALES AND USE TAX RATE BY 0.35% BEGINNING JANUARY 1, 2019, AND REQUIRE 80% OF THE NEW REVENUE TO FUND MUNICIPAL AND COUNTY TRANSPORTATION PROJECTS AND 20% TO FUND MULTIMODAL TRANSPORTATION PROJECTS, INCLUDING BIKE, PEDESTRIAN, AND TRANSIT INFRASTRUCTURE; 2) AUTHORIZE THE ISSUANCE OF ADDITIONAL TRANSPORTATION REVENUE ANTICIPATION NOTES TO FUND STATE TRANSPORTATION PROJECTS AS SPECIFIED IN LEGISLATION ENACTED AT THE 2018 SESSION OF THE COLORADO GENERAL ASSEMBLY; AND 3) PROVIDE THAT ALL REVENUE RESULTING FROM THE TAX RATE INCREASE AND PROCEEDS FROM THE ISSUANCE OF REVENUE ANTICIPATION NOTES ARE VOTER-APPROVED REVENUE CHANGES EXEMPT FROM ANY STATE OR LOCAL REVENUE, SPENDING, OR OTHER LIMITATIONS IN LAW.

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

SHALL STATE TAXES BE INCREASED $432,800,000 ANNUALLY FOR A TWENTY-YEAR PERIOD, AND STATE DEBT SHALL BE INCREASED $3,720,000,000 WITH A MAXIMUM REPAYMENT COST OF $6,200,000,000, TO PAY FOR STATE AND LOCAL TRANSPORTATION PROJECTS, AND, IN CONNECTION THEREWITH, CHANGING THE COLORADO REVISED STATUTES TO: 1) INCREASE THE STATE SALES AND USE TAX RATE BY 0.35% BEGINNING JANUARY 1, 2019, AND REQUIRE 80% OF THE NEW REVENUE TO FUND MUNICIPAL AND COUNTY TRANSPORTATION PROJECTS AND 20% TO FUND MULTIMODAL TRANSPORTATION PROJECTS, INCLUDING BIKE, PEDESTRIAN, AND TRANSIT INFRASTRUCTURE; 2) AUTHORIZE THE ISSUANCE OF ADDITIONAL TRANSPORTATION REVENUE ANTICIPATION NOTES TO FUND STATE TRANSPORTATION PROJECTS AS SPECIFIED IN LEGISLATION ENACTED AT THE 2018 SESSION OF THE COLORADO GENERAL ASSEMBLY; AND 3) PROVIDE THAT ALL REVENUE RESULTING FROM THE TAX RATE INCREASE AND PROCEEDS FROM THE ISSUANCE OF REVENUE ANTICIPATION NOTES ARE VOTER-APPROVED REVENUE CHANGES EXEMPT FROM ANY STATE OR LOCAL REVENUE, SPENDING, OR OTHER LIMITATIONS IN LAW?

Hearing April 18, 2018

Single subject approved; staff draft amended; titles set.

Hearing adjourned 12:04 PM.

 

* Unofficially captioned “Transportation Funding” by legislative staff for tracking purposes. This caption is not part of the titles set by the Board.