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November 17, 2023 HB 23B-1003
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
Fiscal Note
Drafting Number:
Prime Sponsors:
LLS 23B-0021
Rep. Snyder
Sen. Mullica
Date:
Bill Status:
Fiscal Analyst:
November 17, 2023
House State Affairs
Kristine McLaughlin | 303-866-4776
kristine.mclaughlin@coleg.gov
Bill Topic: PROPERTY TAX TASK FORCE
Summary of
Fiscal Impact:
☐ State Revenue
☒ State Expenditure
☐ State Transfer
☐ TABOR Refund
☒ Local Government
☐ Statutory Public Entity
The bill creates a legislative property tax task force to consider causes of rising
property taxes and potential solutions. The bill increases state expenditures through
FY 2027-28.
Appropriation
Summary:
For the current FY 2023-24 the bill requires an appropriation of $4,019 to the
Legislative Department. For FY 2024-25, the bill requires an appropriation of
$123,064.
Fiscal Note
Status:
The fiscal note reflects the introduced bill.
Table 1
State Fiscal Impacts Under HB 23B-1003
Current Year
FY 2023-24
Budget Year
FY 2024-25
Out Year
FY 2025-26
Revenue
- - -
Expenditures General Fund $4,019 $123,064 $115,128
Centrally Appropriated - $21,493 $21,493
Total Expenditures $4,019 $144,557 $136,621
Total FTE - 1.3 FTE 1.3 FTE
Transfers - - -
Other Budget Impacts General Fund Reserve $603 $18,460 $17,269
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November 17, 2023 HB 23B-1003
Summary of Legislation
The bill creates the Property Tax Task Force to identify the causes of increasing property taxes,
review best practices for short- and long-term property tax relief, and make recommendations.
The Legislative Council Staff and the Office of Legislative Legal Services must assist the task
force.
The bill outlines the membership of the task force and its two subpanels including legislators,
the property tax administrator, and a variety of representatives of local governments, as well as
business and real estate organizations. Legislative members receive compensation and
reimbursement of expenses. Non-legislative members of the task force serve without
compensation, but may be reimbursed for expenses.
The task force must meet five times in 2024, and eight times per year beginning in 2025. It must
report to Legislative Council by November 1, 2024, and each subsequent year through 2027.
The subpanels must meet five times in in 2024 only. Following the first report, the task force may
vote to disband itself if a majority of members vote to affirm that the task force has fulfilled its
purpose.
State Expenditures
The bill increases state General Fund expenditures in the Legislative Department by $4,019 in
the current FY 2023-24, $144,557 in FY 2024-25, and $136,621 in FY 2025-26 and thereafter until
the task force disbands, no later than FY 2027-28. Expenditures are shown in Table 2 and
detailed below.
Table 2
Expenditures Under HB 23B-1003
FY 2023-24
current year
FY 2024-25 FY 2025-26
Legislative Department
Personal Services - $100,012 $100,012
Operating Expenses - $1,664 $1,664
Legislator Per Diem $671 $4,028 $4,028
Legislator Travel Costs $744 $4,464 $4,464
Non-Legislator Travel Costs $2,604 $12,896 $4,960
Centrally Appropriated Costs
1
- $21,493 $21,493
Total $4,019 $144,557 $136,621
Total FTE - 1.3 FTE 1.3 FTE
1
Centrally appropriated costs are not included in the bill's appropriation. Page 3
November 17, 2023 HB 23B-1003
Legislative Department. The Legislative Council Staff (LCS) and the Office of Legislative Legal
Services (OLLS) will require staff to support the task force and the General Assembly will incur
additional costs to facilitate meetings and reimburse members.
Staff. LCS requires temporary 1.2 FTE, including 1.0 FTE for a research analyst and 0.2 FTE for
an economist to support the task force. Duties include logistical support, research,
presentations, and analysis of property tax relief proposals. OLLS requires temporary 0.1 FTE
for an attorney to support the committee. Standard operating expenses are included.
Legislator per diem and travel costs. The two legislators on the task force are eligible for
per diem and travel cost compensation for the four meetings that will occur outside of the
legislative session. Costs are based on standard per diem and interim committee travel
reimbursements.
Non-legislator reimbursement. The 21 non-legislative members on the task force and the
subpanels are eligible for travel cost compensation for their respective meetings. Costs are
based on standard travel reimbursements.
Department of Local Affairs. The Division of Property Taxation in the Department of Local
Affairs will have increased workload for the property tax administrator to serve on the task force.
No change in appropriations is required.
Centrally appropriated costs. Pursuant to a Joint Budget Committee policy, certain costs
associated with this bill are addressed through the annual budget process and centrally
appropriated in the Long Bill or supplemental appropriations bills, rather than in this bill. These
costs, which include employee insurance and supplemental employee retirement payments, are
shown in Table 2.
Other Budget Impacts
General Fund reserve. Under current law, an amount equal to 15 percent of General Fund
appropriations must be set aside in the General Fund statutory reserve. Based on this fiscal note,
the bill is expected to increase the amount of General Fund held in reserve by the amounts
shown in Table 1, decreasing the amount of General Fund available for other purposes.
Local Government
The bill increase workload and costs for the local governments that have representatives serving
on the task force or the subpanels, including representatives from municipalities, special
districts, county assessors, school boards, and county commissioners.
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November 17, 2023 HB 23B-1003
Effective Date
The bill takes effect upon signature of the Governor, or upon becoming law without his
signature.
State Appropriations
For the current FY 2023-24, the bill requires a General Fund appropriation of $4,019 to the
Legislative Department.
For FY 2024-25, the bill requires a General Fund appropriation of $123,064 to the Legislative
Department, and 1.3 FTE.
State and Local Government Contacts
Counties Legislative Council Staff Legislative Legal Services
Local Affairs
The revenue and expenditure impacts in this fiscal note represent changes from current law under the bill for each
fiscal year. For additional information about fiscal notes, please visit: leg.colorado.gov/fiscalnotes.