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First Regular Session | 75th General Assembly
Colorado General Assembly

PUBLIC
BILL SUMMARY For SB24-228

SENATE COMMITTEE ON FINANCE
Date May 2, 2024       Location SCR 357

SB24-228 - Amended, referred to Senate Appropriations
05:28:04 PM  
Senators Mullica and Lundeen presented SB24-228, which adjusts the mechanisms used to refund the state TABOR refund obligation starting with the FY 2023-24 surplus by reinstating a temporary state income tax rate cut, and creates a new refund mechanism—a temporary reduction in the state sales and use tax rate—starting with the FY 2024-25 surplus.
05:30:11 PM  

Natalie Menten, representing themself, testified to amend the bill. Heidi Humphreys, representing Colorado Department of Revenue, testified in support of the bill. Josh Pens, representing Colorado Department of Revenue, was available to answer committee questions.

05:41:55 PM
 Motion Adopt amendment L.002 (Attachment G).
Moved Mullica
Seconded
Buckner
Hansen
Simpson
Smallwood
Van Winkle
Kolker
Mullica
YES: 0   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  Pass Without Objection

05:42:08 PM
 Motion Adopt amendment L.003 (Attachment H).
Moved Mullica
Seconded
Buckner
Hansen
Simpson
Smallwood
Van Winkle
Kolker
Mullica
YES: 0   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  Pass Without Objection

05:44:10 PM
 Motion Refer Senate Bill 24-228, as amended, to the Committee on Appropriations.
Moved Mullica
Seconded
Buckner Yes
Hansen Yes
Simpson Yes
Smallwood Yes
Van Winkle Yes
Kolker Yes
Mullica Yes
Final YES: 7   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  PASS