COLO. HOUSE DEMOCRATS: LAWMAKERS INTRODUCE NEW TABOR REFUND MECHANISM, ADVANCE TAX CREDITS FOR WORKING FAMILIES
May 02, 2024
May 02, 2024
DENVER, Colorado, May 2 -- The Colorado House Democrats issued the following news release on May 1, 2024:
Lawmakers yesterday introduced legislation that will restructure the refund mechanisms for state revenue collected above the TABOR cap. The bipartisan bill will temporarily lower income tax rates and create a new formula to determine future refund amounts through the six-tier refund mechanism and income rate reductions, and sales and use tax reductions in years with higher surpl . . .
Lawmakers yesterday introduced legislation that will restructure the refund mechanisms for state revenue collected above the TABOR cap. The bipartisan bill will temporarily lower income tax rates and create a new formula to determine future refund amounts through the six-tier refund mechanism and income rate reductions, and sales and use tax reductions in years with higher surpl . . .