Bill
Bill > HB1026
summary
Introduced
01/10/2024
01/10/2024
In Committee
01/10/2024
01/10/2024
Crossed Over
Passed
Dead
02/05/2024
02/05/2024
Introduced Session
2024 Regular Session
Bill Summary
Since section 20 of article X of the state constitution (TABOR) was approved by the registered electors of this state in 1992, local governments have successfully sought voter approval of revenue changes allowing the local governments to permanently retain revenue in excess of their TABOR fiscal year spending and property tax revenue limits. Current law does not limit the effective period of such voter-approved revenue changes, commonly referred to as waiver elections. The bill requires that, no later than the local elections to be held in November 2029, a local government that retains revenue in excess of either its fiscal year spending limit or property tax revenue limit pursuant to a waiver election held prior to November 9, 2020, must resubmit the ballot issue from the historic waiver election to the registered electors of the local government for re-approval.
AI Summary
This bill requires that by the local elections in November 2029, any local government that has been retaining revenue in excess of its fiscal year spending or property tax revenue limits under a voter-approved "waiver election" prior to November 9, 2020 must resubmit the original ballot issue to the registered electors for re-approval. If the resubmitted ballot issue is not approved, the local government's authority to retain the excess revenue will expire at the start of its next fiscal year. The bill aims to ensure fair, consistent, and current voter approval for local governments to retain revenue above the state constitutional limits set by the Taxpayer's Bill of Rights (TABOR).
Committee Categories
Military Affairs and Security
Sponsors (1)
Last Action
House Committee on State, Civic, Military, & Veterans Affairs Postpone Indefinitely (on 02/05/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://leg.colorado.gov/bills/hb24-1026 |
| Fiscal Note FN2 | https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_hb1026_f1.pdf |
| Fiscal Note FN1 | https://leg.colorado.gov/sites/default/files/documents/2024A/bills/fn/2024a_hb1026_00.pdf |
| BillText | https://leg.colorado.gov/sites/default/files/documents/2024A/bills/2024a_1026_01.pdf |
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