The bill, which Rep. Young will sponsor with Rep. Dianne Primavera (D-Broomfield), is expected to be introduced in the early days of the 2014 legislative session, which begins Jan. 8. The bill would allow business owners to claim a refund on the taxes they pay on the first $25,000 of business personal property.
Unlike previous attempts at BPPT reduction, this bill would not cut into the revenues of local governments and school districts.
“This bill will help thousands of Colorado businesses, including hundreds that were impacted by the September floods,” Rep. Young said. “This bill is one way to help them get back on their feet. I expect it to be a boost for business owners in my district and across Colorado.”