Ballot Title Setting Board
2017-2018

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

STATE TAXES SHALL BE INCREASED $1,330,200,000 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 THAT IS OFFSET BY AN EXPANDED STATE EARNED INCOME TAX CREDIT FOR INDIVIDUAL TAXPAYERS WITH INCOMES UP TO $70,000, 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 8.63% ON TAXABLE INCOME GREATER THAN $300,000, ANNUALLY ADJUSTED FOR INFLATION, FOR INDIVIDUALS, ESTATES, AND TRUSTS; REQUIRING THE MONEY FROM THE TAX INCREASE TO BE USED FOR THE EXPANDED STATE EARNED INCOME TAX CREDIT,WITH NO MORE THAN 2% TO BE USED BY THE STATE FOR ADMINISTRATIVE EXPENSES; 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 EVEN IF THEY DO NOT HAVE EARNED INCOME; AND ALLOWING THE STATE TO RETAIN AND SPEND REMAINING MONEY FROM THE TAX INCREASE, IF ANY, 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 $1,330,200,000 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 THAT IS OFFSET BY AN EXPANDED STATE EARNED INCOME TAX CREDIT FOR INDIVIDUAL TAXPAYERS WITH INCOMES UP TO $70,000, 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 8.63% ON TAXABLE INCOME GREATER THAN $300,000, ANNUALLY ADJUSTED FOR INFLATION, FOR INDIVIDUALS, ESTATES, AND TRUSTS; REQUIRING THE MONEY FROM THE TAX INCREASE TO BE USED FOR THE EXPANDED STATE EARNED INCOME TAX CREDIT,WITH NO MORE THAN 2% TO BE USED BY THE STATE FOR ADMINISTRATIVE EXPENSES; 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 EVEN IF THEY DO NOT HAVE EARNED INCOME; AND ALLOWING THE STATE TO RETAIN AND SPEND REMAINING MONEY FROM THE TAX INCREASE, IF ANY, AS A VOTER-APPROVED REVENUE CHANGE?

Hearing March 21, 2018

Single subject approved; staff draft amended; titles set.
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.
Hearing adjourned 10:59 AM.

Rehearing April 4, 2018

Motion for Rehearing granted only to the extent that the Board made changes to the titles.
Hearing adjourned 11:01 AM.

* 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.