First Regular Session
Sixty-second General Assembly
LLS NO. R990732.01 Jane
ArdSmith
STATE OF COLORADO
BY REPRESENTATIVES Zimmerman, Scott, and Veiga
HOUSE JOINT RESOLUTION 99-1028
CONCERNING AN INTERIM STUDY OF GOVERNMENT TAX INCENTIVES
FOR ECONOMIC DEVELOPMENT.
WHEREAS, The general assembly recognizes that tax
incentives and public subsidies are now used to attract new development
to the state and to encourage land development in particular areas;
and
WHEREAS, The shortterm benefit of such development
may not exceed the longterm public costs of subsidizing
such development; and
WHEREAS, The state government is often in the position
of paying the unanticipated longterm public costs of development;
now, therefore,
Be It Resolved by the House of Representatives
of the Sixtysecond General Assembly of the State of Colorado,
the Senate concurring herein:
(1) That there shall be a committee to
meet in the interim after the First Regular Session of the Sixtysecond
General Assembly to study the tax incentives, subsidies, and rebates
granted by the state government and by local governments for land
development purposes. Such interim committee shall consist of
six members of the General Assembly. Three of such members shall
be from the House of Representatives, appointed by the Speaker
of the House of Representatives, and three of such members shall
be from the Senate, appointed by the President of the Senate.
The committee shall perform the following duties:
(a) Review the tax incentives, subsidies,
rebates, and other forms of preferential tax treatment or monetary
incentives granted to businesses and individuals for the purpose
of developing or encouraging the development of land;
(b) Review and discuss the fiscal impact
of such development, including the estimated aggregate tax revenues
generated by such development with and without such subsidies,
the public costs associated with such development, and the secondary
consequences that result from such development; and
(c) Review and recommend limits on tax
incentives, subsidies, rebates, and other forms of preferential
tax treatment or monetary incentives for such development that
are consistent with the economic contributions of such development
and with the public costs associated with such development.
(2) That, in conducting such study, the
interim committee shall consult with counties, municipalities,
special districts, school districts, taxpayer groups, businesses,
appropriate local and state agencies, environmental groups, chambers
of commerce, and interested members of the public and may hold
public hearings in locations outside the Denver metropolitan area
as deemed necessary for purposes of the study. The study shall
not require additional staff for any state agency or any additional
appropriation to any such state agency.
(3) That the Legislative Council shall
report the findings and recommendations of the interim committee
to the Second Regular Session of the Sixtysecond General
Assembly.
(4) That all expenditures incurred in the conduct of the study enumerated in this resolution shall be approved by the chairperson of the Legislative Council and paid by vouchers and warrants drawn as provided by law from funds allocated to the Legislative Council from appropriations made by the General Assembly.