Ballot Title Setting Board
2017-2018

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

STATE TAXES SHALL BE INCREASED $1,741,300,000 ANNUALLY BY AN AMENDMENT TO THE COLORADO CONSTITUTION AND A CHANGE TO THE COLORADO REVISED STATUTES CONCERNING AN INCREASED STATE INCOME TAX RATE FOR NONCORPORATE TAXPAYERS ON INCOME OVER $300,000 AND AN EXPANDED STATE EARNED INCOME TAX CREDIT FOR INDIVIDUAL TAXPAYERS THAT PARTLY OFFSETS THE TAX INCREASE, AND, IN CONNECTION THEREWITH, REPEALING THE CONSTITUTIONAL REQUIREMENT THAT ALL INCOME BE TAXED AT ONE RATE; INCREASING THE STATE INCOME TAX RATE FROM 4.63% TO 9.87% ON TAXABLE INCOME GREATER THAN $300,000, ANNUALLY ADJUSTED FOR INFLATION, FOR INDIVIDUALS, ESTATES, AND TRUSTS; ALLOWING MOST INDIVIDUAL TAXPAYERS WITH INCOMES UP TO $70,000, ANNUALLY ADJUSTED FOR INFLATION, TO CLAIM A TAX CREDIT OF UP TO $2,000; ALLOWING THE TAX CREDIT TO QUALIFYING CAREGIVERS AND STUDENTS; AND ALLOWING THE STATE TO RETAIN AND SPEND ALL MONEY FROM THE TAX INCREASE ONLY TO PAY FOR THE TAX CREDIT AND RELATED ADMINISTRATIVE COSTS AS A VOTER-APPROVED REVENUE CHANGE.

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

SHALL STATE TAXES BE INCREASED $1,741,300,000 ANNUALLY BY AN AMENDMENT TO THE COLORADO CONSTITUTION AND A CHANGE TO THE COLORADO REVISED STATUTES CONCERNING AN INCREASED STATE INCOME TAX RATE FOR NONCORPORATE TAXPAYERS ON INCOME OVER $300,000 AND AN EXPANDED STATE EARNED INCOME TAX CREDIT FOR INDIVIDUAL TAXPAYERS THAT PARTLY OFFSETS THE TAX INCREASE, AND, IN CONNECTION THEREWITH, REPEALING THE CONSTITUTIONAL REQUIREMENT THAT ALL INCOME BE TAXED AT ONE RATE; INCREASING THE STATE INCOME TAX RATE FROM 4.63% TO 9.87% ON TAXABLE INCOME GREATER THAN $300,000, ANNUALLY ADJUSTED FOR INFLATION, FOR INDIVIDUALS, ESTATES, AND TRUSTS; ALLOWING MOST INDIVIDUAL TAXPAYERS WITH INCOMES UP TO $70,000, ANNUALLY ADJUSTED FOR INFLATION, TO CLAIM A TAX CREDIT OF UP TO $2,000; ALLOWING THE TAX CREDIT TO QUALIFYING CAREGIVERS AND STUDENTS; AND ALLOWING THE STATE TO RETAIN AND SPEND ALL MONEY FROM THE TAX INCREASE ONLY TO PAY FOR THE TAX CREDIT AND RELATED ADMINISTRATIVE COSTS AS A VOTER-APPROVED REVENUE CHANGE?

Hearing February 21, 2018

The Board determined that the proposed initiative only repeals in whole or in part a provision of the state constitution. The requirement for approval by fifty-five percent of the votes cast does not apply to this initiative.
Single subject approved; staff draft amended; titles set.
Hearing adjourned 4:44 PM.

* Unofficially captioned “Policy Changes Pertaining to State Income Taxes” by legislative staff for tracking purposes. This caption is not part of the titles set by the Board.