Colorado 2024 Regular Session

Colorado House Bill HB1053

Introduced
1/10/24  
Introduced
1/10/24  
Report Pass
2/12/24  
Refer
1/10/24  
Report Pass
2/12/24  
Refer
2/12/24  
Report Pass
2/16/24  
Report Pass
2/16/24  
Engrossed
2/21/24  
Refer
2/16/24  
Engrossed
2/21/24  
Report Pass
2/29/24  
Refer
2/21/24  
Report Pass
2/29/24  
Report Pass
4/23/24  
Refer
2/29/24  
Report Pass
4/23/24  
Report Pass
4/26/24  
Refer
4/23/24  
Report Pass
4/26/24  
Engrossed
5/21/24  
Refer
4/26/24  
Engrossed
5/21/24  
Engrossed
5/21/24  
Passed
6/4/24  
Enrolled
5/21/24  

Caption

Tax Policy Analysis by the Legislative Branch

Impact

If enacted, HB1053 would ensure that the state has comprehensive oversight on tax expenditures, allowing the legislative branch to better understand and respond to changes in federal tax law that could affect Colorado's revenue. The implications of the legislation would potentially allow for more informed decision-making regarding tax policies, ensuring they are aligned with both state needs and federal regulations. This could lead to more effective resource allocation and economic planning within the state.

Summary

House Bill 1053 aims to enhance the analysis and evaluation of tax policies within the state of Colorado by requiring the state auditor to prepare an annual report on federal tax law changes that may significantly impact the state's tax base. The bill modifies existing procedures for evaluating state tax expenditures, establishing clearer guidelines for how the state auditor will conduct these evaluations. It emphasizes the need for systematic evaluations and creates a more structured framework for assessing tax policies in relation to both state and federal tax laws.

Sentiment

The general sentiment surrounding HB1053 was supportive among those advocating for greater fiscal accountability and transparent tax policy analysis. Proponents of the bill believe it will create a more robust system for evaluating the effectiveness of tax expenditures. However, there are also concerns from opposition voices regarding the administrative burden this may impose on the state auditor's office, along with apprehensions about how these changes might influence tax policy debates in the legislature. Overall, the discussion highlighted a willingness to improve tax policy oversight while acknowledging potential challenges.

Contention

Notable points of contention included discussions about the balance between state and federal tax policy implications, and the responsibilities placed on the state auditor. Some legislators expressed concerns that this bill may lead to increased complexity in tax policy evaluations, while others felt it might enhance the ability to make data-driven decisions regarding tax expenditures. The proposed extension of the legislative oversight authority also sparked debate regarding the scope of legislative involvement in tax policy assessments.

Companion Bills

No companion bills found.

Previously Filed As

CO HB291

AN ACT relating to the transactions between the Legislative Research Commission and the executive branch.

CO HB5592

Relating to Legislative Auditor’s scope of authority

CO SB687

Clarifying Legislative Auditor's scope of authority

CO HB11

Regards legislative rule approval and fiscal analyses of rules

CO HB3411

Relating to commissions; removing the legislative members; and eliminating expired commissions

CO HB296

Relating To Office Of Legislative Analyst.

CO HB568

Relating To Office Of Legislative Analyst.

CO HB1199

Relating To Office Of Legislative Analyst.

CO SB951

Taxes: credits: motion pictures: Legislative Analyst’s Office report.

CO HCR20

Amending Legislative Branch Personnel Rule 27 and adopting Legislative Branch Personnel Rule 27-C.

Similar Bills

CA SB321

Late signature curing expenditure reports.

VA SB1185

Campaign finance; coordination and required independent expenditure committee disclosure.

VA HB2173

Campaign finance; coordination and required independent expenditure committee disclosure.

VA HB2484

Campaign finance; coordination and required independent expenditure committee disclosure.

AR HB1043

To Require Disclosure And Reporting Of Noncandidate Expenditures Pertaining To Appellate Judicial Elections; And To Adopt New Laws Concerning Appellate Judicial Campaigns.

ND SB2318

Reporting of aggregate expenditures for political purposes; and to provide a penalty.

CA AB545

University of California: major tax expenditures: research.

CA SB468

Taxation: tax expenditures: California Tax Expenditure Review Board.