First Regular Session
Sixty-second General Assembly
LLS NO. R990936.01 Jane
ArdSmith
STATE OF COLORADO
BY SENATOR Lamborn;
also REPRESENTATIVE Spradley.
APPROPRIATIONS
SENATE JOINT RESOLUTION 99-050
CONCERNING AN INTERIM COMMITTEE ON BUSINESS PERSONAL
PROPERTY TAX.
WHEREAS, The General Assembly recognizes that the
ad valorem taxation of personal property used by businesses in
the state of Colorado creates inequities for those businesses;
and
WHEREAS, Such inequities make it more difficult for
Colorado to attract and maintain businesses in the state; and
WHEREAS, Attracting businesses to and maintaining
businesses in the state of Colorado is essential to maintain and
enhance the health of Colorado's economy; now, therefore,
Be It Resolved by the Senate of the Sixtysecond
General Assembly of the State of Colorado, the House of Representatives
concurring herein:
(1) There shall be a committee to meet
in the interim after the First Regular Session of the Sixtysecond
General Assembly to study business personal property taxation
issues. Such interim committee shall consist of six members of
the General Assembly. Three interim committee members shall be
members of the Senate, appointed by the President of the Senate,
two of whom shall be from the majority party and one of whom shall
be from the minority party. The other three interim committee
members shall be members of the House of Representatives, appointed
by the Speaker of the House of Representatives, two of whom shall
be from the majority party and one of whom shall be from the minority
party.
(2) The committee shall perform the following
duties:
(a) Identify and evaluate the inequities of business personal property taxation;
(b) Review the effects of section 393199.5,
Colorado Revised Statutes, which exempts personal property that
has an actual value of two thousand five hundred dollars or less
from the levy and collection of property tax, and consider whether
the amount of such exemption should be changed;
(c) Review and evaluate the effects of
the tax exemptions and credits for businesses in enterprise zones
upon business personal property tax and consider whether such
exemptions and credits should be extended;
(d) Review and evaluate the effects of
any business personal property tax relief adopted at the First
Regular Session of the Sixtysecond General Assembly, including
any credits or other mechanisms adopted to refund state revenues
in excess of the constitutional limitation on state fiscal year
spending;
(e) Develop recommendations and a final
report for the General Assembly, including any legislative changes
necessary to correct the identified inequities; and
(f) Consider and evaluate any other issues
related to the inequities of business personal property tax the
committee considers relevant.
(3) The appointments to the interim committee
shall be made no later than July 1, 1999. The President of the
Senate shall designate the chair of the interim committee. The
chair shall call the first meeting of the interim committee no
later than August 1, 1999.
(4) In conducting its study and developing
recommendations, the interim committee shall consult with businesses,
counties, municipalities, special districts, school districts,
taxpayer groups, appropriate local and state agencies, chambers
of commerce, and interested members of the public and may hold
public hearings 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 agency.
(5) The Legislative Council shall report
the findings and recommendations of the interim committee to the
Second Regular Session of the Sixtysecond General Assembly.
(6) All expenditures incurred in the conduct of the study enumerated in this Resolution shall be approved by the chair of 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.