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Bill > SB003

CO SB003

CO SB003
Identical TABOR Refund

summary

Introduced
11/17/2023
In Committee
11/19/2023
Crossed Over
11/20/2023
Passed
11/20/2023
Dead
Signed/Enacted/Adopted
11/20/2023

Introduced Session

2023 First Special Session

Bill Summary

CONCERNING THE CREATION OF AN IDENTICAL REFUND PAYMENT OF EXCESS STATE REVENUES FROM ALL SOURCES AS A MECHANISM TO REFUND A PORTION OF THE EXCESS STATE REVENUES FOR THE 2022-23 STATE FISCAL YEAR ONLY.

AI Summary

This bill creates an "identical refund payment" to provide a one-time refund of the state's excess revenues for the 2022-23 fiscal year. The refund will be an equal payment to all "qualified individuals" - those who are eligible to claim the TABOR refund under existing law. The refund amount will be calculated by dividing the total remaining excess revenues by the number of expected refund claimants. This refund is in addition to other required TABOR refunds and will not be reported as a state income tax payment or credit. The bill includes provisions for the executive director to quickly recalculate the refund amount after the bill's enactment. The refund mechanism is repealed effective December 31, 2028.

Committee Categories

Budget and Finance, Military Affairs and Security

Sponsors (58)

Ruby Dickson (D)*,  Nick Hinrichsen (D)*,  Cathy Kipp (D)*,  Javier Mabrey (D)*,  Janice Marchman (D)*,  Manny Rutinel (D)*,  Tammy Story (D)*,  Michael Weissman (D)*,  Jenny Willford (D)*,  Judy Amabile (D),  Jennifer Bacon (D),  Shannon Bird (D),  Andrew Boesenecker (D),  Jeff Bridges (D),  Kyle Brown (D),  Janet Buckner (D),  Jessie Danielson (D),  Lindsey Daugherty (D),  Elisabeth Epps (D),  Tony Exum (D),  Steve Fenberg (D),  Rhonda Fields (D),  Meg Froelich (D),  Lorena García (D),  Joann Ginal (D),  Julie Gonzales (D),  Eliza Hamrick (D),  Chris Hansen (D),  Tim Hernández (D),  Leslie Herod (D),  Sonya Jaquez Lewis (D),  Iman Jodeh (D),  Junie Joseph (D),  Chris Kennedy (D),  Chris Kolker (D),  Sheila Lieder (D),  Mandy Lindsay (D),  William Lindstedt (D),  Meghan Lukens (D),  Bob Marshall (D),  Matt Martinez (D),  Tisha Mauro (D),  Barbara McLachlan (D),  Dafna Michaelson Jenet (D),  Jennifer Parenti (D),  Kevin Priola (D),  Naquetta Ricks (D),  Robert Rodriguez (D),  Said Sharbini (D),  Emily Sirota (D),  Marc Snyder (D),  Tom Sullivan (D),  Brianna Titone (D),  Elizabeth Velasco (D),  Stephanie Vigil (D),  Faith Winter (D),  Steven Woodrow (D),  Mary Young (D), 

Last Action

Sent to the Governor (on 11/20/2023)

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