Gov. Jared Polis is considering calling a special legislative session to alter the legislatively-referred 2019 ballot question, Proposition CC.
Prop CC asks voters to allow the state to keep tax money collected over a limit set by the Taxpayer’s Bill of Rights (the proposal does not raise tax rates) instead of refunding that money to the voters or specifically asking to keep it.
There are two main changes to Prop CC that Polis proposes:
• Changing the effective date from 2021 to 2020, allowing the state to keep a 2020 TABOR overage that’s now projected to be $300-$575 million.
• Adding in language to lower state income taxes. (The tax money retained would far exceed the money lost to the reduction.) This is meant to better the chances of passing Prop CC, fulfill a Polis campaign promise and tempt conservatives to support the measure.
Polis says he wants at least some Republican support for the proposed session, but so far Republican legislators have rebuffed him.