SB 23-305

Senate Bill 23-305 establishes a Property Tax Task Force in Colorado. The task force includes both lawmakers and non-lawmakers who will work together to create a long-term, stable tax system for the state. They must meet regularly starting by July 15, 2023, and submit their findings and recommendations to the legislature by November 1 each year until they decide their goals are met or until November 1, 2026, whichever comes first. Since the bill has been signed into law, this task force will now be formed as planned.

Official Summary

The bill creates the property tax task force (task force). The task force consists of both members of the general assembly and individuals who are not members of the general assembly. The purpose of the task force is to develop a permanent and sustainable tax structure for the state of Colorado. The task force is required to: Convene by July 15, 2023; Meet at least 4 times in its first year and at least 8 times every year; and Submit reports with its findings and recommendations to the general assembly by November 1. After the task force makes its first report to the general assembly, the task force may determine that it has fulfilled its purposes and the task force may be disbanded. The task force is repealed on November 1, 2026. (Note: This summary applies to this bill as introduced.)