< Back February 5, 2020 BILL TO PROTECT RURAL AND SMALL COMMUNITY PHARMACIES AND LOWER DRUG COSTS ADVANCES DENVER, CO — Reps. Sonya Jaquez Lewis and Kyle Mullica’s bill, Concerning Prescription Drug Claims Submitted by a Pharmacy, today was approved by House of Representatives on second reading. The bipartisan bill seeks to lower prescription drug costs and support rural and small community pharmacies by establishing requirements for the rates paid by pharmacy benefit management (PBM) firms to pharmacies. “As a pharmacist, I know this bill is critical for saving rural and smaller community pharmacies that are being hit with exorbitant fees,” said Rep Jaquez Lewis (D-Boulder). “We will save these vital health care centers from closing and reduce the cost of prescription drugs for pharmacies and patients with this bill. As a former pharmacist, I understand this system well and I know we need to bring as much transparency to it as possible. ” “As an ER nurse, I know first hand how crucial it is to get a patient the best possible medication when they need it,” said Rep. Mullica (D-Northglenn). “But even the best prescription drug is completely ineffective when it’s not affordable or not accessible in your community. This bill would save people money on prescription drugs and help keep pharmacies in smaller communities in business. I’m very pleased to see it move forward today.” HB20-1078 specifies the amount that a PBM is required to reimburse a pharmacy for ‘clean claims’ and reasonable dispensing fees. Specifically, the bill would prohibit pharmaceutical middle management companies, known as PBMs, from collecting retroactive fees, which increase the cost of prescription drugs to pharmacies and patients in Colorado. Retroactive billing hits pharmacies in rural communities the hardest because they have less financial capacity to absorb retroactive losses on prescriptions that are needed by rural Coloradans.The bill was approved by the House Health and Insurance Committee unanimously before being referred to the Committee of the Whole. Previous Next

Diesel prices hit record level as Trump's war with Iran continues < Back September 18, 2026 Economy remains resilient while Colorado households bear the cost of federal policies DENVER, CO – Democratic members of the Joint Budget Committee (JBC) today released the following statements after the Legislative Council Staff (LCS) and the Office of State Planning and Budgeting (OSPB) delivered the September quarterly economic forecasts. “From groceries to gas, inflation continues to drive up everyday costs for Coloradans,” said JBC Chair Rep. Emily Sirota, D-Denver . “It’s certainly troubling that household finances continue to deteriorate and delinquency rates are increasing, which means Coloradans are facing extreme headwinds just to make ends meet. Medicaid is growing unsustainably and despite our deep budget cuts last session, more painful decisions must be made to ensure this program doesn’t crowd out funding for housing, childcare and K-12. One thing remains clear in this mixed economic forecast: without serious TABOR reform in Colorado, there will be trade-offs and painful cuts to the programs, services and healthcare families rely on.” “Coloradans don’t need an economic forecast to know we have a cost of living crisis – we feel it every time we fill up the car, buy groceries, and pay the bills,” said JBC Vice Chair Sen. Jeff Bridges, D-Arapahoe County. “Decisions in DC add even more uncertainty and drive up costs at exactly the wrong time. Colorado’s economy remains strong, but that doesn’t mean our families aren’t feeling the pain. More than ever, our job is to protect the services people rely on, ensure we get the most from every dollar, and keep working to lower the cost of living for every Coloradan.” “Colorado Democrats have implemented bold, cost-saving policies to help bring down the cost of housing, healthcare and childcare, but high and climbing prices continue to eat away at families’ budgets,” said JBC Member Rep. Kyle Brown, D-Louisville. “Medicaid cost growth, largely driven by long-term care and prescription drugs, is higher than previously forecasted. Every state is dealing with rising Medicaid costs, and in Colorado we are working to reduce strain on our state budget by creating a more sustainable path for the program so that it doesn’t crowd out K-12 education or other core services funding. Medicaid spending must be reigned in while protecting core services for the most vulnerable Coloradans.” “Despite extremely painful cuts the legislature has already made to address budget shortfalls in recent years, this forecast suggests the Joint Budget Committee will have to come back again to make even more difficult cuts to services Coloradans rely on,” said JBC Member Sen. Judy Amabile, D-Boulder. “Ongoing burdens from the federal government, including the disastrous H.R.1., are driving up prices. Meanwhile, the cost of providing lifesaving care to Colorado’s most vulnerable through Medicaid continues to rise faster than we can afford. Without major changes, we’ll continue to be forced to make painful cuts to programs Coloradans rely on.” The Legislative Council Staff (LCS) forecast anticipates General Fund revenue to be $16.78 billion in FY 2025-2026, $18.40 billion in FY 2026-2027, and $18.87 billion in FY 2027-2028. This represents an overall increase of $220 million in the current year and $330 million for FY 2026-2027 as compared to the June forecast . The Office of State Planning and Budgeting (OSPB) forecast anticipates that General Fund revenue will be $16.78 billion for FY 2025-26, $18.10 billion for FY 2026-2027 and $18.57 billion for FY 2027-2028. This represents an overall decrease of $150 million in the current year and an increase of $210 million for FY 2026-2027 as compared to their June forecast . According to LCS scenario B, which accounts for expected cost growth in Medicaid and other current-law programs, the General Fund would end FY 2027-28 with a 6.2 percent reserve, $1.58 billion less than the current statutory requirement, unless further cuts are made next year. The LCS and OSPB forecasts anticipate that FY 2027-28 revenue will be above the TABOR cap by $578.7 million and $286.9 million, respectively. This means that TABOR will likely trigger a temporary income tax rate reduction that disproportionately benefits the wealthiest Coloradans while requiring cuts to core services like Medicaid that benefit the most vulnerable Coloradans. For the 2026-27 FY (which began July 1, 2026), revenue is forecasted to be above the cap by $827 million in the LCS forecast and $607 million per OSPB, a revision of $344 million and $137.4 million, respectively. The annual inflation rate is 3.9 percent, remaining elevated since February. President Trump’s unpopular war with Iran has destabilized markets and increased energy costs. Nationwide energy inflation is 16.3 percent, driven by 27.4 percent inflation in gasoline and 52.0 percent inflation in fuel oil including diesel, which hit a record-high of more than $6 per gallon this month. Energy inflation in the Denver metro area is even higher at 17.2 percent in July 2026. Although Colorado’s economy remains resilient, rising costs, a stagnant job market, and high levels of consumer debt are straining families’ budgets. Rising Medicaid costs continue to impact the state budget. The interim Commission on Medicaid has been meeting to develop long-term strategies to reduce spending, protect access to care, and chart a sustainable path forward for Medicaid. According to information released yesterday, Medicaid spending exceeded previous forecasts by $158 million for the 2025-26 FY and $443 million for the 2026-2027 FY, and year-over-year cost growth is projected to be $417 million for the 2027-2028 FY. The corporate tax cuts in H.R. 1 forced cuts to programs that create opportunities for working families. The Family Affordability Tax Credit (FATC) will be entirely turned off for the 2026 tax year. Both forecasts released today continue to expect the FATC to be off for 2027 as well. LCS expects FATC to be partially available in 2028 while OSPB expects it to continue to not be available. Families who would have been eligible for the FATC will be eligible for a new, smaller, tax credit created last session, the Family Affordability Credit (FAC). Estimates show families could still receive up to $260 for each child under age six and up to $195 for each child between six and 16 because of HB26-1223 . While wages have ticked upward for the majority of workers, including low-wage earners, they have barely kept pace with high inflation. In addition, many Coloradans are underemployed or have left the workforce and job growth remains stagnant at 0.4 percent. Unemployment remains low. In November, Coloradans will see several measures on their ballots to potentially impact the future of vital programs like schools and healthcare after years of pressure from continuous budget shortfalls . Proposition NN , which was referred to the ballot by the legislature in 2026 , would allow Colorado to retain revenue above the current TABOR cap to drive funding to K-12 schools. Amendment 87 would institute a graduated income tax structure, with the top 3 percent of earners paying more in taxes and the other 97 percent of Colorado taxpayers paying less than they do now. If Prop NN passes, it would funnel hundreds of millions per year to Colorado schools. If Amendment 87 passes, it would funnel about $2 billion per year to services like Medicaid, childcare, and education. Previous Next

HB25-1135 will address student cell phone use in classrooms < Back February 25, 2025 House Passes Bipartisan Bill to Create Healthier Learning Environments for Students DENVER, CO – The House today passed bipartisan legislation to reduce student distraction caused by cell phones and foster a healthier learning environment. HB25-1135 passed by a vote of 49 to 16. “With the passage of this bill, we’re one step closer to creating healthier learning environments for our students by limiting distractions caused by cell phones, " said Rep. Meghan Lukens, D-Steamboat Springs. “As an educator, I know reducing classroom distractions is essential for fostering a learning environment where students are focused on the material, asking questions and learning alongside their peers in person. This bipartisan bill empowers school districts to create their own student cell phone use policy to limit distractions and boost engagement.” HB25-1135 is also sponsored by Representative Mary Bradfield, R-El Paso County. This bill aims to reduce cell phone-related distractions in classroom settings while promoting mental health among Colorado students. HB25-1135 encourages local control by allowing districts to consider their own guidelines when creating their district level policy. This bill would not impose a statewide ban on student cell phone use in Colorado’s public K-12 schools. Under this bill, school districts would create their own policy for student cell phone use in a K-12 setting. Policies must accommodate students with disabilities, and those who rely on phones for healthcare needs or learning purposes. Research shows that student use of cell phones in schools can have negative effects on performance, including lower test scores and smaller learning gains. Additionally, cell phone use is associated with higher levels of depression and anxiety. From Florida to Ohio, at least 19 states have laws or policies that prohibit or limit the use of student cell phone use in schools or encourage districts to create their own policies as a best practice. Previous Next

House Speaker Julie McCluskie and Majority Leader Monica Duran today congratulated Representative-Elect Jamie Jackson who was selected last night to represent House District 41. < Back January 23, 2025 McCluskie, Duran Congratulate Rep-Elect Jackson DENVER, CO – House Speaker Julie McCluskie and Majority Leader Monica Duran today congratulated Representative-Elect Jamie Jackson who was selected last night to represent House District 41. The vacancy committee for HD-41 was necessitated after former Representative Iman Jodeh was selected to represent Senate District 29. “Congratulations to Rep-Elect Jackson!” said Speaker Julie McCluskie, D-Dillon. “I look forward to working with Rep-Elect Jackson to make our state more affordable, protect our investments in K-12 education and move Colorado forward. ” “I look forward to working alongside Rep-Elect Jackson to reduce costs for families and support working people in Colorado,” said Majority Leader Monica Duran, D-Wheat Ridge. “HD-41 is one of our state’s most diverse districts, and I know Rep-Elect Jackson will bring her experience to the legislature to uplift the voices of her constituents.” Rep-Elect Jackson is the Chief Operating Officer at The Naloxone Project, the vice president of the Colorado Black Women for Political Action and the criminal justice chairperson for Aurora NAACP. Rep-Elect Jackson’s official swearing-in will take place in the Colorado House of Representatives soon. Previous Next

< Back May 24, 2021 HOUSE PASSES BILL TO CREATE EARLY CHILDHOOD EDU DEPARTMENT DENVER, CO– The House today passed HB21-1304 , sponsored by Speaker Alec Garnett and Representative Emily Sirota by a vote of 44-20. The bill creates a new, cabinet-level state agency focused on early childhood education and care, setting up the framework for universal pre-K in Colorado. “Every parent knows child care in Colorado is far too expensive, and every early childhood advocate knows our current system is fractured and doesn’t meet every family’s needs,” said Speaker Alec Garnett, D-Denver. “The bill we passed today sets up a system that will allow us to tackle both of these issues at once, streamlining the early childhood system and putting us on track to guarantee the option of universal pre-K for every family in the state.” “We know that early childhood years are the most crucial in a child’s cognitive development, but this time in a family’s life is often when they have the least support,” said Rep. Emily Sirota, D-Denver. “Child care and early childhood education is getting more and more expensive and harder to access for the families that need it. By creating a state department for early childhood education, we will lay the groundwork for universal pre-K and ensure that early childhood providers have the resources and funding necessary to ensure our youngest Coloradans succeed.” Based on the recommendations of the Early Childhood Leadership Commission, HB21-1304 creates the Department of Early Childhood as a new, cabinet-level state agency with a mission to expand access to high-quality, voluntary, affordable early childhood opportunities, support parents in accessing programs and services, promote equitable delivery of resources, and unify the fragmented administration of early childhood services to reduce duplicative oversight and administrative burden on families, providers, and educators. The bill also requires the creation of a plan to implement voluntary universal preschool statewide in alignment with Proposition EE, and streamlines existing and new funding sources for early childhood education and care programs. Under this legislation, the Governor would submit the community-informed transition plan to the Joint Budget Committee in November as part of his 2022 budget request, to be considered for further legislative action by the General Assembly in the 2022 session. Previous Next

Majority Leader Monica Duran will receive the Carpenters Tool Bag Award this evening from the Southwest Mountain States Regional Council of Carpenters to celebrate her advocacy to prevent wage theft. < Back December 13, 2023 Majority Leader Duran to Receive Award for Advocacy Against Wage Theft Denver, CO – Majority Leader Monica Duran will receive the Carpenters Tool Bag Award this evening from the Southwest Mountain States Regional Council of Carpenters to celebrate her advocacy to prevent wage theft. “Coloradans rely on every dollar they earned to afford their rent, groceries, and other necessities, and wage theft makes it even more difficult for Coloradans to afford their bills,” said Majority Leader Monica Duran, D-Wheat Ridge . “I’m honored to receive this award celebrating the laws we’ve passed to ensure Coloradans receive the money they’ve earned and to hold violators accountable. I am committed to continue championing workers’ rights to ensure that Colorado has the protections our workers deserve.” Majority Leader Duran sponsored SB22-161 , ensuring Colorado workers are able to recover legally-earned wages. The law also modernizes Colorado’s wage enforcement procedures by streamlining the enforcement of wage theft laws and expanding the Department of Labor and Employment’s ability to investigate wage violators. She also voted to approve a 2019 law that makes withholding or stealing wages a criminal offense. A 2022 report by the Colorado Fiscal Institute found that nearly 440,000 low-wage Colorado workers experience $728 million in wage theft annually. Workers of color and women are most likely to be victims of wage theft, and the most common industries for wage theft are retail, construction, and food service. Wage theft can include not paying workers minimum wage, non-payment of wages, misclassifying workers as independent contractors or as management to avoid paying overtime and taking tips that were meant for the employees. Previous Next

SB26-001 would make funds available for workforce and affordable housing < Back March 4, 2026 Committee Passes Bill to Unlock Local Governments’ Ability to Address Housing Needs SB26-001 would make funds available for workforce and affordable housing DENVER, CO – The House Transportation, Housing and Local Government Committee today passed bipartisan legislation to give local governments additional flexibility to address housing shortages. SB26-001 passed unanimously by a vote of 12-0. “Coloradans deserve to be able to live where they work, and this bill would leverage existing tools to better meet the needs of our communities,” said Speaker Pro Tempore Andy Boesenecker, D-Fort Collins. “This bill would remove restrictive regulations that prevent local governments from being able to create housing that their communities can actually afford. Colorado Democrats remain committed to delivering housing opportunities, and legislation like this can drive down housing costs so Coloradans can build a successful future.” SB26-001 , also sponsored by Representative Chris Richardson, R-Elbert County, would allow counties to use existing resources to support workforce and affordable housing, removing outdated restrictions that limit their ability to respond to local housing needs. The bill would also allow local governments to sell, lease, or acquire property for the purpose of workforce or affordable housing and create a tax exemption for construction materials used for workforce housing projects. Additionally, SB26-001 would update Colorado’s Middle-Income Housing Tax Credit to help projects secure financing by allowing the credits to be transferred to individuals, firms, or corporations that do not own a project interest. In 2024, Colorado Democrats created the first Middle-Income Housing Tax Credit Pilot Program in the nation. This pilot program offers tax credits to support affordable rental housing projects for middle-income Coloradans. In 2025, nearly $5 million was allocated to projects in the Denver Metro Area and the Western Slope. Previous Next

Governor Jared Polis today signed bipartisan legislation to update Colorado’s medical liability laws. < Back June 3, 2024 Gov. Polis Signs Medical Liability Bill into Law DENVER, CO – Governor Jared Polis today signed bipartisan legislation to update Colorado’s medical liability laws. The agreement from health care providers, business leaders and trial lawyers will prevent divisive ballot measures and provide certainty for both providers and patients. “I’m grateful to all the people who put aside differences and came together to do what’s best for Colorado and avoid divisive ballot measures,” said Rep. Kyle Brown, D-Louisville . “This new law will maintain access to health care, provide stability for providers and businesses, and ensure people can be compensated when they are injured because of negligence.” “By bringing people together, we’ve come to a long-term agreement that is good for Coloradans, ensures access to care and protects consumers,” said Health and Insurance Committee Chair Lindsey Daugherty, D-Arvada. “I appreciate the work of the sponsors, Governor Polis, business groups and consumer advocates to put aside their differences and bring forward legislation that will provide stability to the health care industry and allow patients and their families to pursue justice.” HB24-1472 , sponsored by Representative Kyle Brown and Minority Leader Rose Pugliese, makes changes to noneconomic loss or injury and wrongful death damages caps and allows a sibling of the deceased to bring a wrongful death action in certain circumstances. It also increases the recoverable amount for noneconomic damages medical malpractice actions. For civil actions filed on or after January 1, 2025, the law increases the cap on damages for noneconomic loss or injury from $250,000 to $1.5 million and starting January 1, 2028, adjusts the damages cap based on inflation. The law adds a sibling of the deceased as a party who may bring a wrongful death action in certain circumstances. The law imposes a wrongful death damages cap of $2.125 million, and starting January 1, 2028, adjusts the damages cap based on inflation. The law incrementally increases the medical malpractice wrongful death damages limitation to $1.575 million, and adjusts the cap for inflation. The law incrementally increases the noneconomic damages limitation to $875,000, and adjusts the cap for inflation. Previous Next

< Back October 24, 2019 BIPARTISAN LEGISLATION TO PROTECT BUSINESSES REMITTING SALES TAXES ADVANCES Sales and Use Tax Simplification Task Force extended until 2025; changes made to hold harmless provisions for users of tax remittance software made crucial in wake of Wayfair Supreme Court decision DENVER, CO– The Sales and Use Tax Simplification Task Force today advanced two bipartisan bills that would extend the task force until 2025 and continue to support the state’s compliance with the United States Supreme Court Wayfair ruling. “For 30 years, Colorado’s complex system of tax jurisdictions, home rule municipalities and TABOR have led to challenges for businesses trying to navigate different rates,” said Task Force Chair Rep. Tracy Kraft-Tharp (D-Arvada). “The Wayfair decision made the situation more complex, and our task force has been working hard since 2017 to address these concerns. Last session we tasked the state with creating a GIS database and software system to make the tax remittance process easy for businesses. Today, we continued this work by advancing legislation to protect vendors from being liable for any errors made as a result of using the GIS database or third-party software applications that rely on the underlying GIS data.” With local jurisdictions imposing different tax rates, vendors face a challenge in determining the correct tax amount and in accurately remitting payments to the proper local tax jurisdiction. Large retailers and market facilitators, such as Amazon, must remit taxes based on the location of the purchaser. However, smaller businesses are currently allowed to remit taxes based on their business location until the state can create a simplified way for remitting taxes based on the purchaser’s location. Last session, lawmakers passed SB19-006, sponsored by Rep. Kraft-Tharp, which required the state to create a Geographic Information System (GIS) database and software to assist vendors in remitting sales and use taxes to local jurisdictions. The new system will help businesses navigate the patchwork of sales and use taxes across the state and accurately remit sales taxes. A bill that the task force advanced today would hold vendors harmless for errors made as a result using the new state GIS database or a third-party software that relies on the GIS database, once the state develops and releases the new database and software. Additionally, the Department of Revenue must ensure that the information provided in the state database is 95 percent accurate. The other bill lawmakers advanced today would extend the taskforce until July 2025 and eliminate the requirement for a Department of Regulatory Affairs sunset review process. The bill expands the scope of the task force’s work to include a review of legislation passed last session. Previous Next

House advances three bills to save Coloradans money and improve access to prescription drugs < Back March 20, 2023 House Advances Bills to Save Coloradans Money on Health Care and Prescription Drugs House advances three bills to save Coloradans money and improve access to prescription drugs DENVER, CO - The House today advanced legislation that will reduce health insurance premiums for Colorado Option plans and make prescription drugs more accessible and affordable. “Saving Coloradans money on health care and prescription drugs is one of our top priorities this session,” said Rep. Chris deGruy Kennedy, D-Lakewood, sponsor of HB23-1225 . "This bill will reduce out-of-pocket costs for prescription drugs by extending the Prescription Drug Affordability Board’s cost saving measures to more medications. Passing this legislation will help more Coloradans afford the medication they need to survive and put more money back into the pockets of hardworking families.” “This legislation removes arbitrary limitations so the Prescription Drug Affordability Board can implement cost-saving measures that drive down prescription drug prices,” said Rep. Ruby Dickson, D-Centennial, sponsor of HB23-1225 . “With these improvements to our 2021 legislation, the Prescription Drug Affordability Board will be more effective in doing its job to save Coloradans money on affordable, quality health care.” HB23-1225 increases the effectiveness of the Prescription Drug Affordability Board (PDAB) to help lower out-of-pocket prescription drug costs for Coloradans. In 2021, lawmakers passed the Prescription Drug Affordability Board to evaluate and place upper price limits on the highest cost prescription drugs. The legislation introduced today will increase the impact of the Prescription Drug Affordability Board to save people money on out of pocket prescription drug costs. It removes the limit on setting no more than 12 Upper Payment Limits (UPLs) per year in the first three years of the PDAB, and improves the criteria for selecting drugs for an affordability review. “I’m proud of the work we’ve done to provide Coloradans affordable health care plans that work for them through the Colorado Option,” said Rep. Kyle Brown, D-Louisville, sponsor of HB23-1224 . “This legislation will reduce premiums on the individual and small group markets and make it easier for Coloradans to find high-value health care plans that are affordable and cover the services they need.” HB23-1224 will lower insurance premiums and make it easier for consumers to shop for high value standardized health plans that work for them and their families. The updates to the Colorado Option strengthen the Division of Insurance’s (DOI) ability to hold carriers accountable for the premium rate reduction requirements on Colorado Option Standardized Plans by granting the DOI the authority to: Limit factors such as as excessive profit and administrative expenses; Structure the public hearings process efficiently while ensuring all parties have the opportunity to participate; Help consumers easily find and compare plans that could lower their out-of-pocket costs. “As someone who lives with an invisible disability, I know how important it is to receive timely care that improves your quality of life without breaking the bank,” said Rep. Iman Jodeh, D-Aurora, sponsor of HB23-1224 and HB23-1183 . “HB23-1224 will save Coloradans money and reduce premiums for Colorado Option plans, which are increasing access to care for Coloradans who have disproportionately faced barriers to the care they need. Too many Coloradans put off seeking health care because of the hoops that they have to jump through and high copays. These bills help connect Coloradans to affordable health care plans and prioritizes patients over profits.” “Step therapy requires patients to spend weeks or months trying alternative medications before their insurance company will cover the originally prescribed medication, threatening the health and wellbeing of those who need medication for treatment,” said Rep. Emily Sirota, D-Denver, sponsor of HB23-1183 . “This bill creates step therapy exemptions for those with serious health conditions who are served by Medicaid.” In 2022, Representatives Iman Jodeh and Emily Sirota passed a bill limiting when a patient has to try and fail a treatment preferred by their insurance company before they can access the treatment originally recommended by their doctor. HB23-1183 would require the Department of Health Care Policy and Financing to exempt patients with serious or complex medical conditions from the step therapy requirement if the alternative drug would likely cause negative side effects, the alternative drug is unlikely to be effective based on the patient’s history, or if the patient is already using a prescription that has clinical documentation of being effective. The bill passed the House by a vote of 59-3. Previous Next

Representatives Tisha Mauro, D-Pueblo and Matthew Martinez, D-Alamosa today released the following statement following a train derailment outside Pueblo: < Back October 16, 2023 Mauro, Martinez Release Statement Regarding Pueblo Train Derailment DENVER, CO – Representatives Tisha Mauro, D-Pueblo and Matthew Martinez, D-Alamosa today released the following statement following a train derailment outside Pueblo: “We’re deeply saddened and concerned by the derailment in northern Pueblo County of a large coal train, and we mourn the semi-truck driver who was killed during the incident. We are truly grateful for the first responders and Colorado State Patrol who have been on scene to assist in traffic navigation, communication and operations. “While the cause for the derailment is still unknown, our community is now grappling with a massive cleanup effort and the re-opening of I-25 to ease travel and economic disruptions. We are committed to working toward solutions alongside our colleagues in the legislature and other officials to ensure the safety of the railways our community and economy relies on.” Previous Next

Proposal protects funding for schools, fire districts and critical services < Back November 19, 2023 Property Tax Relief Passes Committee Proposal protects funding for schools, fire districts and critical services DENVER, CO - The House Transportation, Housing & Local Government Committee today passed legislation to provide short-term property tax relief while protecting our schools, fire districts, and other local services Colorado communities rely on. The bill passed committee by a vote of 9-4. “If we don’t act now to deliver property tax reductions, next year’s tax bills could be devastating for Coloradans who are already struggling with the rising cost of living,” said Speaker Julie McCluskie, D-Dillon. “Our legislation takes $55,000 off assessed home values and reduces the percent of a home’s value that is subject to property taxes. It provides meaningful property tax reductions while protecting schools, fire districts and critical services our communities rely on without using TABOR surplus dollars.” “Homeowners and renters alike are struggling with the high cost of housing in Colorado,” said Rep. Chris deGruy Kennedy, D-Lakewood. “This bill makes meaningful reductions in property taxes while protecting funding for K-12 public schools and fire districts. The next step is for every local government to take a hard look at their own budget. Property taxes are primarily the concern of local governments, and only they know whether they can afford to go beyond our legislation by lowering their own mill levies.” SB23B-001 would increase the property value exemption for multifamily and single family residential properties from $15,000 to $55,000 and decrease the residential assessment rate from 6.765 percent to 6.7 percent for the 2023 tax year. To offset revenue loss resulting from these property tax reductions, this bill would transfer $135 million of general fund dollars to the State Education Fund to be used to backfill school districts’ budgets, and would appropriate $65 million of general fund dollars to be used to backfill fire districts and local government services. Previous Next